US Gold Scrap prices slip on Wednesday; COMEX Gold hits 3-month low

UNITED STATES March 12 2015 2:20 PM
NEW YORK (Scrap Register): United States scrap gold prices slipped on Wednesday, while gold futures prices fell to a three-month low on the back of a stronger US dollar and weaker commodities sector.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap slipped on Wednesday. The prices of 9ct Gold Scrap hallmarked slipped to $448.77 an ounce and 14ct Gold Scrap hallmarked traded down at $700.091 an ounce on Wednesday.

The prices of 9ct Gold Scrap non-hallmarked dropped to $424.487 an ounce on Wednesday and 14ct Gold Scrap non-hallmarked traded down at $662.20 an ounce.

In Futures market, gold was weighed down by the general decline in the commodities sector with the most notable decline in energy commodities and a weaker euro also dragged down gold prices.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last trade down by $10.50 to $ 1,149.60 an ounce on Wednesday.

As per Scrap Register Price Index, aluminium, brass, copper, electronic lead and zinc scrap commodities showed mixed trend on Wednesday.