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US Scrap Gold prices remain flat; Gold Futures end the year 2015 marginally higher

iconJan 5, 2016 09:53
Source:SMM
United States gold scrap prices stayed flat on Friday, while gold futures prices at New York Mercantile Exchange ended the year 2015 marginally higher on Thursday.

UNITED STATES January 04 2016 4:35 PM

NEW YORK (Scrap Register): United States gold scrap prices stayed flat on Friday, while gold futures prices at New York Mercantile Exchange ended the year 2015 marginally higher on Thursday, as the precious metal scored weekly, monthly and yearly declines in the final trading day of 2015.

The major gold scrap commodities on the Scrap Register Price Index continued to stay almost flat on Friday. The 9ct hallmarked gold scrap prices remained flat at $386.393 an ounce and 14ct hallmarked gold scrap prices unchanged at $602.774 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also stayed flat at $772.787 ounce and $943.83 an ounce respectively.

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According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices remained stable at $365.48 an ounce and 14ct non-hallmarked gold scrap prices traded flay at $570.149 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also unchanged at $730.961 an ounce and $892.747 an ounce respectively. 

The most active February gold contract on the COMEX division of the New York Mercantile Exchange last traded slightly up by 40 cents to $1,060.20 an ounce on Thursday, after ending the previous session at its lowest level in about two weeks. The yellow metal booked a 1.5% drop, along with a 0.5% decline in December and a withering 10.5% fall for the year, according to FactSet data.

Largely influenced by U.S. monetary policy and dollar flows, the price of gold fell 10 percent in 2015 as some investors sold the precious metal to buy assets that pay a yield, such as equities. 

Following the U.S. Federal Reserve's first interest rate rise in nearly a decade earlier this month and indications the central bank would resort to gradual increases in 2016, the outlook for gold does not look bullish.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)


United States gold scrap prices

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