UNITED STATES December 07 2015 5:13 PM
NEW YORK (Scrap Register): United States gold scrap prices rose on Friday, while gold futures prices at New York Mercantile Exchange settled up and posted its first weekly gain in seven week as monthly data on U.S. employment showed strong growth, but didn’t provide any real surprises.
The major gold scrap commodities on the Scrap Register Price Index traded up on Friday. The 9ct hallmarked gold scrap prices rose to $392.577 an ounce and 14ct hallmarked gold scrap prices advanced to $612.42 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $785.154 ounce and $958.935 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $371.329 an ounce and 14ct non-hallmarked gold scrap prices up to $579.274 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $742.659 an ounce and $907.034 an ounce respectively.
The most active February gold contract on the COMEX division of the New York Mercantile Exchange gained by $22.90 an ounce to $1,084.10 an ounce on Friday, off the session’s high of $1,088.30. That was the largest percentage and dollar gain since August 20. Prices haven’t seen a settlement this high since Nov. 11, based on the most-active contracts.
Gold futures prices at New York Mercantile Exchange settled up after a U.S. non-farm payrolls report, seen as likely to pave the way for the U.S. Federal Reserve to raise interest rates this month, failed to aid the dollar's ascent. Non-farm payrolls increased 211,000 in November, the Labor Department said.
September and October data was revised to show 35,000 more jobs than previously reported. The second consecutive strong jobs report only briefly blunted the gold rally as renewed euro strength and U.S. dollar weakness has driven further short covering in gold.
