UNITED STATES November 09 2016 8:00 PM
NEW YORK (Scrap Register): United States scrap gold prices fell on Tuesday, while gold futures prices at New York Mercantile Exchange ended lower, a day after suffering their sharpest one-day percentage loss in about five weeks, as traders showed caution ahead of the outcome of the U.S. presidential election.
The major gold scrap commodities on the Scrap Register Price Index traded lower on Tuesday. The 9ct hallmarked gold scrap prices slightly lower to $466.709 an ounce and 14ct hallmarked gold scrap prices edged lower to $728.067 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $933.419 ounce and $1140.016 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices fell to $441.449 an ounce and 14ct non-hallmarked gold scrap prices down to $688.661 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $882.899 an ounce and $1078.314 an ounce respectively.
The most active December gold contract on the COMEX division of the New York Mercantile Exchange down by $4.90 to $1,274.50 an ounce on Tuesday after trading as high as $1,291.50. Gold closed Monday at a one-week low of $1,279.40, down $25.10, or 1.9%—its largest single-session percentage loss since October 04.