US Scrap Gold prices slightly up; Gold Futures settle nearly four week high

UNITED STATES October 31 2016 4:40 PM

NEW YORK (Scrap Register): United States scrap gold prices up on Friday, while gold futures prices at New York Mercantile Exchange settled higher, logging a third consecutive weekly gain and their highest close in nearly four weeks as weakness in the US dollar and a new probe into Hillary Clinton’s emails raised the metal’s appeal as a safe-haven investment. 

The major gold scrap commodities on the Scrap Register Price Index traded slightly higher on Friday. The 9ct hallmarked gold scrap prices up by 0.533 to $463.054 an ounce and 14ct hallmarked gold scrap prices edged up to $722.364 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also advanced at $926.108 ounce and $1131.086 an ounce respectively.

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According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices slightly fall to $437.992 an ounce and 14ct non-hallmarked gold scrap prices down to $683.267 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $875.983 an ounce and $1069.867 an ounce respectively. 

The most active December gold contract on the COMEX division of the New York Mercantile Exchange gained by $7.30 to $1,276.80 an ounce on Friday, it’s highest finish since October 3.

Gold futures ended the week with a gain of roughly 0.7%—the third weekly gain in a row. They remain down around 3% in the month to date.