US Scrap Gold prices decline; Gold Futures bounce back

UNITED STATES April 26 2016 8:27 PM

NEW YORK (Scrap Register): United States scrap gold prices declined on Monday while gold futures prices at New York Mercantile Exchange settled higher, bouncing back partially from a steep selloff at the end of last week, as traders looked ahead to interest-rate policy meetings that could set the near-term course for both the dollar and precious metals the dollar weakened after U.S. data came in below forecast.

The major gold scrap commodities on the Scrap Register Price Index traded up on Monday. The 9ct hallmarked gold scrap prices gained to $450.65 an ounce and 14ct hallmarked gold scrap prices increased to $703.014 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also up at $901.3 ounce and $1100.787 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $426.259 an ounce and 14ct non-hallmarked gold scrap prices up to $664.964 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $852.518 an ounce and $1041.209 an ounce respectively.

The most active June gold contract on the COMEX division of the New York Mercantile Exchange settled higher by $10.20 to $1,240.20 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)