US Scrap Gold prices decline; Gold Futures settle at three-month low

UNITED STATES May 30 2016 6:31 PM     

NEW YORK (Scrap Register): United  States scrap gold prices declined on Friday, while gold futures prices at New  York Mercantile Exchange settled at a three-month low, as continued strength in  the U.S. dollar helped push prices for the metal toward lows last seen in late  February.

The major gold scrap commodities on the  Scrap Register Price Index traded down on Friday. The 9ct hallmarked gold scrap  prices declined to $442.411 an ounce and 14ct hallmarked gold scrap prices  decreased to $690.161 an ounce. The 18ct hallmarked gold scrap and 22ct  hallmarked gold scrap prices also down at $884.822 ounce and $1080.662 an ounce  respectively.

According to Scrap Register Price Index, the 9ct  non-hallmarked gold scrap prices dropped to $418.466 an ounce and 14ct  non-hallmarked gold scrap prices down to $652.807 an ounce on Friday. The 18ct  non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also  traded lower at $836.932 an ounce and $1022.173 an ounce respectively.  

The most active June gold contract on the COMEX division of the New York  Mercantile Exchange settled lower by $6.60 to $1,213.80 an ounce on Friday, the  lowest settlement since February 22.

Yellow metal prices continued to  fall as U.S. Federal Reserve Chairwoman Janet Yellen, during an interview that  began shortly before the gold futures settlement, said an interest-rate increase  could be appropriate in the coming months.