US Scrap Gold prices gain; Gold Futures post 2% climb for the week

UNITED STATES November 07 2016 8:49 PM

NEW YORK (Scrap Register): United States scrap gold prices gained on Friday, while gold futures prices at New York Mercantile Exchange Gold futures settled with a modest gain to tally a more than 2% climb for the week, as uncertainty surrounding the U.K.’s exit from the European Union and the coming U.S. election raised the metal’s attractiveness as a haven.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Friday. The 9ct hallmarked gold scrap prices gained by 0.138 to $473.893 an ounce and 14ct hallmarked gold scrap prices advanced to $739.274 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also rose to $947.787 ounce and $1157.564 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices gained to $448.245 an ounce and 14ct non-hallmarked gold scrap prices rose to $699.262 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $896.489 an ounce and $1094.912 an ounce respectively. 

The most active December gold contract on the COMEX division of the New York Mercantile Exchange gained by $1.20 to $1,304.50 an ounce on Friday. Gold futures prices saw weekly gain of 2.2%, which marked the metal’s fourth-consecutive weekly gain.