US Scrap Gold prices may trade down this week; Scrap Gold declines

UNITED STATES March 31 2015 8:45 AM

NEW YORK (Scrap Register): United States scrap gold prices are expected to trade lower this week in line with spot and future gold market, the prices which down from recent highs and with both month and quarter ending this week.

As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked declined to $ 434.954 an ounce and 14ct Gold Scrap hallmarked traded down at $ 678.528 an ounce on Monday.

The prices of 9ct Gold Scrap non-hallmarked declined to $ 411.413 an ounce on Monday and 14ct Gold Scrap non-hallmarked traded down at $ 641.804 an ounce.

In Futures market, short-term traders appear to be ending the week by taking their profits after prices pushed to a four-week high on Thursday.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange settled down at $1,199.80 an ounce on Friday. However, despite Friday’s weaker session, gold futures ended its second straight week in positive territory, up 1.4% since 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)