US Scrap Gold prices advance on Tuesday in line with Gold Futures

UNITED STATES April 29 2015 10:25 AM

NEW YORK (Scrap Register): United States scrap gold prices advanced on Tuesday in line with futures prices at New York Mercantile Exchange, as investors awaited the result of the Federal Reserve’s two-day monetary policy meeting.

 

As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked advanced to $436.5 an ounce and 14ct Gold Scrap hallmarked traded down at $680.94 an ounce on Tuesday.

 

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The prices of 9ct Gold Scrap non-hallmarked declined to $412.875 an ounce on Tuesday and 14ct Gold Scrap non-hallmarked traded down at $644.085 an ounce. 

 

The gold futures market got a boost when the US dollar index extended its early losses to trade solidly lower on the day. There continues to be some safe-haven buying interest in the gold market amid the ongoing debt negotiations between Greece and the European Union/International Monetary Fund-which are not going well. 

 

The most active June gold contract on the COMEX division of the New York Mercantile Exchange settled up $11.00 at $1,214.20 an ounce on Tuesday.

 

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