US Scrap Gold prices decline; Gold Futures settle below $1,250 an ounce

UNITED STATES March 22 2016 4:53 PM

NEW YORK (Scrap Register): United States scrap gold prices declined on Monday, while gold futures prices at New York Mercantile Exchange settle below $1,250 an ounce as prominent Federal Reserve officials raised the possibility of an interest-rate hike as early as April.

The major gold scrap commodities on the Scrap Register Price Index traded down on Monday. The 9ct hallmarked gold scrap prices declined to $452.832 an ounce and 14ct hallmarked gold scrap prices dropped to $706.419 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $905.665 ounce and $1106.119 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices decreased to $428.323 an ounce and 14ct non-hallmarked gold scrap prices down to $668.185 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded lower at $856.647 an ounce and $1046.251 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange settled lower by $10.10 to $1,244.20 an ounce on Monday, extending losses from Friday, when the contract declined about 0.9%. Gold prices were down 0.4% last week.