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US Scrap Gold prices gain; Gold Futures fall for the week

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NEW YORK (Scrap Register): United States scrap gold prices gained on the Scrap Register Price Index as on Friday, while gold futures prices at New York Mercantile Exchange settled down, with losses in the stock market supporting haven demand for the precious metal but strength in the U.S. dollar keeping pressure on prices, sending them lower for the week.

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 advanced on Friday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices climbed by 0.37% to 478.277 an ounce, 746.112 an ounce, 956.553 an ounce and 1168.271 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 gained to 452.391an ounce, 705.729 ounce, 904.781 an ounce and 1105.039 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange gained by $4.30 to settle at $1,318.50 an ounce on Friday. For the week, prices based on the most-active contract lost 0.3%.

(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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