UNITED STATES September 15 2015 10:50 AM
NEW YORK (Scrap Register): United States gold scrap prices remained almost flat on Monday, while gold futures prices at New York Mercantile Exchange settled slightly higher as investors set their sights on the crucial Federal Reserve decision on interest rates due out later this week.
The major gold scrap commodities on the Scrap Register Price Index traded almost flat on Monday. The 9ct hallmarked gold scrap prices remained flat at $411.056 an ounce and 14ct hallmarked gold scrap prices unchanged at $624.904 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also stayed flat at $801.159 ounce and $978.483 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices remained stable at $378.899 an ounce and 14ct non-hallmarked gold scrap prices traded flay at $591.082 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also unchanged at $757.798 an ounce and $925.524 an ounce respectively.
The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled up by $4.40 at $1,107.70 an ounce on Monday.
Gold futures prices at New York Mercantile Exchange as investors await the decision of the Fed on interest rate hikes, with many speculating an immediate hike by the Fed at the conclusion of its policy meet on Thursday.
The Fed will announce its policy decision Thursday afternoon, with market divided whether the central bank will raise interest rates. If a hike is indicated, then it would be the first since 2006. The uncertainty of a rate continues to roil markets after some mixed economic data in the last few weeks.