US Scrap Gold prices continue to decline; Gold Futures at two-week lows

UNITED STATES June 24 2016 3:45 PM

NEW YORK (Scrap Register): United States scrap gold prices continued to decline on Thursday, while gold futures prices at New York Mercantile settled with their fifth-straight session loss, holding ground at two-week lows, as major global stock markets gained ahead of a historic decision on the U.K.’s membership in the European Union.

The major gold scrap commodities on the Scrap Register Price Index traded up on Thursday. The 9ct hallmarked gold scrap prices advanced to $459.107 an ounce and 14ct hallmarked gold scrap prices increased to $716.207 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also up at $918.214 ounce and $1121.446 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $434.258 an ounce and 14ct non-hallmarked gold scrap prices up to $677.443 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded up at $868.517 an ounce and $1060.749 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange settled down by $6.90 to $1,263.10 an ounce on Thursday.