UNITED STATES November 10 2016 7:28 PM
NEW YORK (Scrap Register): United States scrap gold prices dropped on Wednesday, while gold futures prices at New York Mercantile Exchange settled down as U.S. equities climbed and the dollar strengthened in the wake of Republican candidate Donald Trump’s election win.
The major gold scrap commodities on the Scrap Register Price Index traded lower on Wednesday. The 9ct hallmarked gold scrap prices lower at $466.109 an ounce and 14ct hallmarked gold scrap prices edged lower to $727.13 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $932.219 ounce and $1138.55 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices fell to $440.882 an ounce and 14ct non-hallmarked gold scrap prices down to $687.775 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $881.763 an ounce and $1076.927 an ounce respectively.
The most active December gold contract on the COMEX division of the New York Mercantile Exchange down by $1 to $1,273.50 an ounce on Wednesday.
Gold Futures had been trading higher, though off session’s best levels, as the uncertainty surrounding Trump’s stunning victory against Democratic rival Hillary Clinton prompted investors to seek out less risky assets.