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US Scrap Gold prices climb in line with Gold Futures

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NEW YORK (Scrap Register): United States scrap gold prices climbed on the Scrap Register Price Index as on Wednesday, tracking the uptrend in gold futures prices at New York Mercantile Exchange as a benchmark dollar index dropped to a three-month low.

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 gained on Wednesday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices gained by 0.16 to 468.728 an ounce, 731.216 an ounce, 937.456 an ounce and 1144.947 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 443.359 an ounce, 691.640 ounce, 886.718 an ounce and 1082.978 an ounce respectively.

The February gold contract on the COMEX division of the New York Mercantile Exchange advanced by $6.10 to settle at $1,292 an ounce.

Gold settled higher on Wednesday, buoyed by a drop in the dollar as the market weighed comments from Federal Reserve officials for hints on the pace of the central bank’s interest-rate hikes this 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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