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US Scrap Gold prices rise; Gold Futures post first weekly gain in seven week
Dec 8,2015 09:11CST
industry news
Source:SMM
United States gold scrap prices rose on Friday.

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.


United States gold scrap prices
US gold scrap prices
gold prices

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