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US Scrap Gold prices fall further; Gold Futures rise 25% so far in 2016

iconJul 1, 2016 13:03
Source:SMM
United States scrap gold prices declined on Thursday, while gold futures prices at New York Mercantile Exchange ended lower.

UNITED STATES July 01 2016 8:19 AM

NEW YORK (Scrap Register): United States scrap gold prices declined on Thursday, while gold futures prices at New York Mercantile Exchange ended lower as so-called riskier assets lured investors away from the metal, but still scored a second-straight quarterly gain to leave the yellow metal up nearly 25% in the first half of the year.

The major gold scrap commodities on the Scrap Register Price Index traded lower on Thursday. The 9ct hallmarked gold scrap prices declined to $480.696 an ounce and 14ct hallmarked gold scrap prices dropped to $749.885 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $961.391 ounce and $1174.179 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices down to $454.679 an ounce and 14ct non-hallmarked gold scrap prices fell to $709.299 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded lower at $909.357 an ounce and $1110.628 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange settled lower by $6.30 to $1,320.60 an ounce on Thursday, pulling back a day after futures prices marked their highest close since July 11, 2014.

After spotty, post-Brexit volatility, prices have turned slightly lower for the week so far. But they were up about 6.9% for the second quarter and have climbed 24.6% since the end of 2014.

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


United States scrap gold prices

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