US Scrap Gold prices decrease; Gold Futures fall nearly 1.7% for the week

Published: May 17, 2016 13:40

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United States scrap gold prices decreased on Friday, while gold futures prices at New York Mercantile Exchange scored a gain.

UNITED STATES May 16 2016 7:45 PM

NEW YORK (Scrap Register): United States scrap gold prices decreased on Friday, while gold futures prices at New York Mercantile Exchange scored a gain, but still suffered a loss for the week—the first in three weeks—pressured by overall strength in the U.S. dollar.

The major gold scrap commodities on the Scrap Register Price Index traded down on Friday. The 9ct hallmarked gold scrap prices fell to $460.471 an ounce and 14ct hallmarked gold scrap prices decreased to $718.335 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $920.942 ounce and $1124.777 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices decreased to $435.549 an ounce and 14ct non-hallmarked gold scrap prices down to $679.456 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded lower at $871.097 an ounce and $1063.9 an ounce respectively.

The most active June gold contract on the COMEX division of the New York Mercantile Exchange settled lower by $1.50 to $1,277.70 an ounce on Friday, , after trading between a high of $1,277.70 and low of $1,264 Friday. The contract saw a nearly 1.7% weekly decline, which was the first loss since the week ended April 22.

precious metals prices scrap gold prices

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