UNITED STATES November 03 2016 6:57 PM
NEW YORK (Scrap Register): United States scrap gold prices advanced on Wednesday, while gold futures prices at New York Mercantile Exchange ended higher as growing uncertainty surrounding the US presidential election as well as weakness in the US dollar and equities lifted the metal to its highest finish in a month.
The major gold scrap commodities on the Scrap Register Price Index traded higher on Wednesday. The 9ct hallmarked gold scrap prices gained by 1.187 to $474.239 an ounce and 14ct hallmarked gold scrap prices advanced to $739.813 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also rose to $948.478 ounce and $1158.408 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices gained to $448.571 an ounce and 14ct non-hallmarked gold scrap prices rose to $699.772 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $897.143 an ounce and $1095.710 an ounce respectively.
The most active December gold contract on the COMEX division of the New York Mercantile Exchange gained by $20.20 to $1,308.20 an ounce on Wednesday.
It hadn’t topped $1,300 or settled at a level this high since October. In electronic trading shortly after the Fed announcement, prices were a few dollars lower than the settlement, at $1,305.50.