US Gold Scrap prices gain in line with COMEX Gold

UNITED STATES June 03 2015 10:40 AM

NEW YORK (Scrap Register): United States gold scrap prices advanced on Tuesday in line with gold futures prices at New York Mercantile Exchange due to week dollar.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Tuesday. The 9ct hallmarked gold scrap prices rose to $436.464 an ounce and 14ct hallmarked gold scrap prices advanced to $680.883 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $872.927 ounce and $1066.135 an ounce respectively.

As per Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $412.841 an ounce and 14ct non-hallmarked gold scrap prices up to $644.031 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $825.681 an ounce and $1008.432 an ounce respectively.

However, the most active August gold contract on the COMEX division of the New York Mercantile Exchange was last trade up $5.10 an ounce at $1,193.80 an ounce on Tuesday.

Gold gold futures prices at New York Mercantile Exchange settled up as the dollar weakened versus major rivals outlook remain firm as dollar dropped after disappointing US data and also as uncertainty persisted over whether a high-level meeting on Greece's debt crisis might lead to a significant breakthrough.

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