US Scrap Gold, Gold Futures prices edge up as Doha Oil output talks fail

UNITED STATES April 19 2016 9:15 PM

NEW YORK (Scrap Register): United States scrap gold prices gained on Monday in line with gold futures prices at New York Mercantile Exchange, but momentum for the precious commodity looked upbeat after a meeting of key oil producers failed to yield an agreement on a hoped-for output freeze.

The major gold scrap commodities on the Scrap Register Price Index traded up on Monday. The 9ct hallmarked gold scrap prices gained to $448.977 an ounce and 14ct hallmarked gold scrap prices increased to $700.404 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also up at $897.953 ounce and $1096.7 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $424.676 an ounce and 14ct non-hallmarked gold scrap prices up to $662.495 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $849.353 an ounce and $1037.343 an ounce respectively.

The most active June gold contract on the COMEX division of the New York Mercantile Exchange settled slightly higher by 40 cents to $1,235 an ounce on Monday.

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