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US Scrap Gold prices fall tracking the weak trend in COMEX Gold

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NEW YORK (Scrap Register): United States scrap gold prices fell on the Scrap Register Price Index as on Wednesday, tracking the weak trend in gold futures prices at New York Mercantile Exchange, with prices finding little reason to make any significant moves on the back of a steady dollar and mixed trading this week among U.S. benchmark stock indexes.

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 dropped on Wednesday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices dropped by 0.04 percent to 464.090 an ounce, 723.981 an ounce, 928.181 an ounce and 1133.618 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 dropped to 438.972 an ounce, 684.797 ounce, 877.944 an ounce and 1072.263 an ounce respectively.

Prices for the metal also barely budged in the immediate wake of the Federal Reserve’s Beige Book. The snapshot of U.S. economic conditions, released after gold futures settled, showed that economic activity expanded at a “slight-moderate” pace in March and early April.

(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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