US Scrap Gold prices may remain under pressure this week

Published: Mar 17, 2015 15:31

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United States scrap gold prices are expected to trade down this week in line with spot and future gold prices as the futures market reported a weekly drop.

UNITED STATES March 17 2015 11:29 AM

NEW YORK (Scrap Register): United States scrap gold prices are expected to trade down this week in line with spot and future gold prices as the futures market reported a weekly drop.

However, the most active April gold contract on the COMEX division of the New York Mercantile Exchange was last trade up by $2 to $1,152.40 an ounce on Friday. But gold ended the week in negative territory, settling the session at $1,152.40 an ounce, down 1.47% from Monday.

This week all eyes will be on the Federal Reserve and analysts are expecting gold to suffer on the back of a stronger US dollar as the central bank prepares for an eventual rate hike.

The prices for hallmarked scrap gold and non-hallmarked scrap gold declined on Scrap Register Price Index on Monday.

For Live US Scrap Gold Prices Log on to Scrap Register

As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked declined to $419.04 an ounce and 14ct Gold Scrap hallmarked traded down at $653.702 an ounce on Monday.

The prices of 9ct Gold Scrap non-hallmarked dropped to $396.36 an ounce and 14ct Gold Scrap non-hallmarked traded down at $618.322 an ounce.

As per Scrap Register Price Index, aluminium, brass, copper, electronic lead and zinc scrap prices remained flat on Monday.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US scrap gold prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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