US Scrap Gold Prices gain; Gold Futures marks highest closing level since Oct 28

NEW YORK (Scrap Register): United States scrap gold prices gained on Thursday; while gold futures prices at New York Mercantile Exchange settled higher as further weakness in the U.S. dollar and haven demand for the metal lifted prices to their highest settlement level since late October.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Thursday. The 9ct hallmarked gold scrap prices rose to $420.622 an ounce and 14ct hallmarked gold scrap prices advanced to $656.171 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $841.245 ounce and $1027.44 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $397.857 an ounce and 14ct non-hallmarked gold scrap prices up to $620.656 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $795.713 an ounce and $971.831 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange up by $16.20 to $1,157.50 an ounce on Thursday, the highest closing level for futures prices since October 28.

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