US Scrap Gold prices continue to decline ahead of Christmas; Gold Futures settle lower again

UNITED STATES December 24 2015 11:03 AM    

NEW YORK (Scrap Register): United  States gold scrap prices declined on Wednesday, while gold futures prices at New  York Mercantile Exchange settled lower for the second straight day, as the  dollar rose ahead of Christmas.

The major gold scrap commodities on the  Scrap Register Price Index continued to trade down on Wednesday. The 9ct  hallmarked gold scrap prices declined to $388.576 an ounce and 14ct hallmarked  gold scrap prices dropped to $606.178 an ounce. The 18ct hallmarked gold scrap  and 22ct hallmarked gold scrap prices also traded down at $777.152 ounce and  $949.161 an ounce respectively.

According to  Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices also  dropped to $367.545 an ounce and 14ct non-hallmarked gold scrap prices down to  $573.37 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct  non-hallmarked gold scrap prices are also traded higher at $735.09 an ounce and  $897.789 an ounce respectively.

However, the most active February gold  contract on the COMEX division of the New York Mercantile Exchange settled down  by $5.90 an ounce to $1,068.20 an ounce on Wednesday, after finishing lower  Tuesday. The contract had previously recorded two straight sessions of gains.