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US Scrap Gold prices stay flat; Gold Futures settles down

Industry News 05:43:52PM Sep 28, 2015 Source:SMM

UNITED STATES September 28 2015 11:45 AM

NEW YORK (Scrap Register): United States gold scrap prices stayed almost flat on Friday, while gold futures prices at New York Mercantile Exchange settled lower after US growth estimates were nudged higher and Federal Reserve Chairwoman Janet Yellen said a rise in US interest rates is likely to happen later this year.

The major gold scrap commodities on the Scrap Register Price Index traded almost flat on Friday. The 9ct hallmarked gold scrap prices remained flat at $412.656 an ounce and 14ct hallmarked gold scrap prices unchanged at $643.744 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also stayed flat at $825.312 ounce and $1007.982 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices remained stable at $390.322 an ounce and 14ct non-hallmarked gold scrap prices traded flay at $608.902 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also unchanged at $780.643 an ounce and $953.426 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled down by $6.70 at $1,147.10 an ounce on Friday.

A rate hike is appropriate in either October or December, Fed Chair Janet Yellen said last night in a speech delivered at the University of Massachusetts. 

“If the FOMC were to delay the start of the policy normalization process for too long, we would likely end up having to tighten policy relatively abruptly to keep the economy from significantly overshooting its goals,” Yellen said in a prepared speech.

The speech was focused on inflation, which Yellen expects will return to 2 percent annual growth rate over the next few years.

She focused on some of the global headwinds that the Fed cited in last week's statement as reasons for not raising interest rates in September. Despite problems in China and Europe, Yellen does not think these issues will prove large enough to have a significant path of the path of policy.


US Scrap Gold prices stay flat; Gold Futures settles down

Industry News 05:43:52PM Sep 28, 2015 Source:SMM

UNITED STATES September 28 2015 11:45 AM

NEW YORK (Scrap Register): United States gold scrap prices stayed almost flat on Friday, while gold futures prices at New York Mercantile Exchange settled lower after US growth estimates were nudged higher and Federal Reserve Chairwoman Janet Yellen said a rise in US interest rates is likely to happen later this year.

The major gold scrap commodities on the Scrap Register Price Index traded almost flat on Friday. The 9ct hallmarked gold scrap prices remained flat at $412.656 an ounce and 14ct hallmarked gold scrap prices unchanged at $643.744 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also stayed flat at $825.312 ounce and $1007.982 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices remained stable at $390.322 an ounce and 14ct non-hallmarked gold scrap prices traded flay at $608.902 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also unchanged at $780.643 an ounce and $953.426 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled down by $6.70 at $1,147.10 an ounce on Friday.

A rate hike is appropriate in either October or December, Fed Chair Janet Yellen said last night in a speech delivered at the University of Massachusetts. 

“If the FOMC were to delay the start of the policy normalization process for too long, we would likely end up having to tighten policy relatively abruptly to keep the economy from significantly overshooting its goals,” Yellen said in a prepared speech.

The speech was focused on inflation, which Yellen expects will return to 2 percent annual growth rate over the next few years.

She focused on some of the global headwinds that the Fed cited in last week's statement as reasons for not raising interest rates in September. Despite problems in China and Europe, Yellen does not think these issues will prove large enough to have a significant path of the path of policy.