US Scrap Gold prices gain; Gold Futures post highest settlement since January 2015

UNITED STATES May 02 2016 5:06 PM

NEW YORK (Scrap Register): United States scrap gold prices gained on Friday while gold futures prices at New York Mercantile Exchange posting the highest settlement since January 2015, as a slump in the greenback to its lowest level in about 11 months lured investors into dollar-denominated commodities. 

The major gold scrap commodities on the Scrap Register Price Index traded up on Friday. The 9ct hallmarked gold scrap prices gained to $467.655 an ounce and 14ct hallmarked gold scrap prices increased to $729.542 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also advanced at $935.31 an ounce and $1142.326 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $442.344 an ounce and 14ct non-hallmarked gold scrap prices up to $690.057 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $884.688 an ounce and $1080.499 an ounce respectively. 

The most active June gold contract on the COMEX division of the New York Mercantile Exchange settled higher by $24.10 to $1,290.50 an ounce on Friday, marking a fifth straight day of gains. The settlement was the best since late January 2015. Yellow metal prices ended roughly 4.4% higher for the month, based on the most-active contracts, and were up over 5% on the week.

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