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US Scrap Gold prices fall; COMEX Gold drops by over $20 an ounce

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NEW YORK (Scrap Register): United States scrap gold prices dropped on the Scrap Register Price Index as on Thursday, tracking the down trend in gold futures prices at New York Mercantile Exchange marked their largest daily drop and lowest settlement month to date, with the tumble pushing bullion below a psychologically and technically significant level at $1,300.

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 fell on Thursday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices dropped by 0.50 percent to 472.438 an ounce, 737.004 an ounce, 944.877 an ounce and 1154.010 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 declined to 446.868 an ounce, 697.115 ounce, 893.737 an ounce and 1091.550 an ounce respectively.

The most active June gold contract on the COMEX division of the New York Mercantile Exchange fell by $20.60 to settle at $1,293.30 an ounce on Thursday. That was the lowest finish and largest single-session loss for a most-active contract since March 28.

(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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