US Scrap Gold prices decline 2.5%; Gold Futures mark lowest finish since June

UNITED STATES November 14 2016 4:15 PM
NEW YORK (Scrap Register): United States scrap gold prices declined on Friday, while gold futures prices at New York Mercantile Exchange settled down to mark their lowest finish since June.

The major gold scrap commodities on the Scrap Register Price Index traded lower on Friday. The 9ct hallmarked gold scrap prices declined by 2.449% to $449.759 an ounce and 14ct hallmarked gold scrap prices traded lower to $701.624 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $899.517 ounce and $1098.611 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices fell to $425.416 an ounce and 14ct non-hallmarked gold scrap prices down to $663.649 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $850.832 an ounce and $1039.15 an ounce respectively. 

The most active December gold contract on the COMEX division of the New York Mercantile Exchange down by $42.10 to $1,224.30 an ounce on Friday, the lowest close since early June. 

Gold futures prices at New York Mercantile Exchange settled down on Friday as strength in the U.S. dollar and equities this week, and growing expectations for a Federal Reserve interest-rate increase next month, fueled the largest weekly decline in more than three years.

For the week, prices lost roughly 6.2%, the largest since the week ended June 21, 2013, when they dropped about 6.9%.