US Gold Scrap prices rise with Gold Futures

UNITED STATES September 24 2015 11:02 AM     

NEW YORK (Scrap Register): United  States gold scrap prices advanced on Wednesday in line with gold futures prices  at New York Mercantile Exchange, finding support after posting losses over the  past two trading sessions. 

The major gold scrap commodities on the Scrap  Register Price Index traded higher on Wednesday. The 9ct hallmarked gold scrap  prices advanced to $411.529 an ounce and 14ct hallmarked gold scrap prices rose  to $641.985 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold  scrap prices also gained at $823.057 ounce and $1005.227 an ounce  respectively.

According to  Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to  $389.255 an ounce and 14ct non-hallmarked gold scrap prices up to $607.238 an  ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked  gold scrap prices are also traded higher at $778.51 an ounce and $950.82 an  ounce respectively.

The most active December gold contract on the COMEX  division of the New York Mercantile Exchange last traded up by $6.70 or 0.6% to  $1,131.50 an ounce on Wednesday.

The countdown to a potential government  shutdown by October 1 has officially begun, with one bank saying the chances  that an agreement can be reached in time are slim. In a research note published  Wednesday, analysts at TD Securities said they see  a 55% chance that the U.S.  government will be forced to close its doors as a result of a funding gap,  reminiscent of 2013, when the government shutdown for 16 days -- the third  longest in U.S. history.