US Scrap Gold prices gain; Gold Futures mark the highest settlement since April 12

UNITED STATES April 20 2016 10:13 PM     

NEW YORK (Scrap Register): United States scrap gold prices  gained on Tuesday in line with gold futures prices at New York Mercantile  Exchange as the dollar weakened after U.S. data came in below  forecast.

U.S. housing starts fell more than expected  in March and permits for future home construction hit a one-year low, suggesting  some cooling in the housing market in line with signs of a sharp slowdown in  economic growth in the first quarter.

The major gold scrap commodities on  the Scrap Register Price Index traded up on Tuesday. The 9ct hallmarked gold  scrap prices gained to $456.652 an ounce and 14ct hallmarked gold scrap prices  increased to $712.377 an ounce. The 18ct hallmarked gold scrap and 22ct  hallmarked gold scrap prices also up at $913.304 ounce and $1115.448 an ounce  respectively.

According to Scrap Register Price Index, the 9ct  non-hallmarked gold scrap prices advanced to $431.936 an ounce and 14ct  non-hallmarked gold scrap prices up to $673.82 an ounce on Tuesday. The 18ct  non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also  traded higher at $863.872 an ounce and $1055.076 an ounce  respectively.

The most active June gold contract on the COMEX division of  the New York Mercantile Exchange settled higher by $19.30 to $1,254.30 an ounce  on Tuesday, marking the highest settlement since April 12.