UNITED STATES September 02 2015 12:34 PM
NEW YORK (Scrap Register): United States gold scrap prices advanced on Tuesday in line with gold futures prices at New York Mercantile Exchange, as a sell-off in global stock markets and downbeat economic data helped boost the metal’s investment appeal. Gold futures settled at their highest level in more than two weeks on Tuesday.
The major gold scrap commodities on the Scrap Register Price Index traded higher on Tuesday. The 9ct hallmarked gold scrap prices rose to $415.512 an ounce and 14ct hallmarked gold scrap prices advanced to $648.198 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $831.023 ounce and $1014.956 an ounce respectively.
As per Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $393.023 an ounce and 14ct non-hallmarked gold scrap prices up to $613.115 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $786.045 an ounce and $960.023 an ounce respectively.
The most active December gold contract on the COMEX division of the New York Mercantile Exchange last traded up by $ 7.30 at $1,139.80 an ounce on Monday.
New York Gold futures settled up rebounded to end higher with investors seeking the safe haven appeal of the metal after some disappointing economic data from the China and the US.
The sharp sell-off in global equity markets, also prompted investors to turn to the precious metal. Global equity markets in U.S., Europe, and Asia were firmly in the red after the disappointing Chinese economic data.