UNITED STATES November 01 2016 3:47 PM
NEW YORK (Scrap Register): United States scrap gold prices fell on Monday, while gold futures prices at New York Mercantile Exchange settled lower and expanding their October loss to some 3%, with a stronger US dollar setting the tone.
The major gold scrap commodities on the Scrap Register Price Index traded slightly lower on Monday. The 9ct hallmarked gold scrap prices dropped by 0.079 to $462.690 an ounce and 14ct hallmarked gold scrap prices edged lower to $721.796 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $925.380 ounce and $1130.197 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices slightly fall to $437.648 an ounce and 14ct non-hallmarked gold scrap prices down to $682.730 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $875.295 an ounce and $1069.027 an ounce respectively.
The most active December gold contract on the COMEX division of the New York Mercantile Exchange gained by $2.50 to $1,274.30 an ounce on Monday.
Even with Monday’s drop, gold traded not far off a more-than-three-week high hit at the end of last week on jitters about the outcome of the U.S. presidential election.