US Scrap Gold prices drop slightly; Gold Futures post lowest finish since June

UNITED STATES November 18 2016 5:24 PM

NEW YORK (Scrap Register): United States scrap gold prices fell on Thursday, while gold futures prices at New York Mercantile Exchange posted its lowest finish since June as Federal Reserve Chairwoman Janet Yellen appeared to validate the market’s expectation for a December interest-rate hike.

The major gold scrap commodities on the Scrap Register Price Index traded down on Thursday. The 9ct hallmarked gold scrap prices declined by 0.20% to $446.230 an ounce and 14ct hallmarked gold scrap prices traded lower to $696.119 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $892.461 ounce and $1089.992 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices fell to $422.079 an ounce and 14ct non-hallmarked gold scrap prices down to $658.443 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $844.157 an ounce and $1030.998 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange fell by $7 to $1,216.90 an ounce on Thursday, the lowest settlement since June 2. 

Gold prices had spent the bulk of the session trading higher, peaking above $1,231, which would have marked a one-week high.