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US Scrap Gold prices gain; Gold Futures hit best since June

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NEW YORK (Scrap Register): United States scrap gold prices gained on the Scrap Register Price Index as on Wednesday, while gold futures prices at New York Mercantile Exchange hit highest level since June as a decline in Asia’s equity market and volatility in the U.S. stock market fueled appetite for so-called haven assets.

The major gold scrap commodities prices including 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap, 22ct hallmarked gold scrap, 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap on the Scrap Register Price Index showed a steady trend on Wednesday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices edged up by 0.31 to 466.655 an ounce, 727.982 an ounce, 933.31 an ounce and 1139.88 an ounce respectively.

The 9ct non-hallmarked gold scrap, 14ct non-hallmarked gold scrap, 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices climbed to 441.398 an ounce, 688.581 ounce, 882.796 an ounce and 1078.188 an ounce respectively.

The February gold contract on the COMEX division of the New York Mercantile Exchange advanced by $2.80 to settle at $1,284.10 an ounce. That was its highest settlement since the middle of June, though well below the session’s high of $1,291.

On Monday, gold notched a roughly 2% drop for 2018, but ended up 4.6% in December and 7.2% higher over the last three months of the year.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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