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US Scrap Gold prices edge up; Gold Futures slightly down

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NEW YORK (Scrap Register): United States scrap gold prices edged up on the Scrap Register Price Index as on Tuesday, while gold futures prices at New York Mercantile Exchange settled down, with investors looking to the dollar, Treasury yields and the upcoming U.S. State of the Union Address for directional cues.

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 slightly higher on Tuesday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices edged up by 0.15% to 478.040 an ounce, 745.743 an ounce, 956.080 an ounce and 1167.693 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 edged up to 452.167 an ounce, 705.380 ounce, 904.334 an ounce and 1104.493 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange fell by 0.02 percent to settle at $1,319.20 an ounce on Tuesday.

Gold gas been unable to overcome a headwind from a stronger U.S. dollar. Gold can often take cues from moves in the dollar, with a stronger currency making commodities priced in the unit more expensive to users of other currencies.

(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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