US Scrap Gold prices slip; Gold Futures drop below $1,200 an ounce

UNITED STATES November 25 2016 6:09 PM

NEW YORK (Scrap Register): United States scrap gold prices slipped on Thursday, while gold futures prices at New York Mercantile Exchange adding to the prior day’s drop that left them at their lowest settlement since early February.

The major gold scrap commodities on the Scrap Register Price Index traded lower on Thursday. The 9ct hallmarked gold scrap prices declined by 0.063 percent to $431.444 an ounce and 14ct hallmarked gold scrap prices traded lower to $673.052 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $862.888 ounce and $1053.874 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices fell to $408.093 an ounce and 14ct non-hallmarked gold scrap prices down to $636.624 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $816.185 an ounce and $996.834 an ounce respectively. 

The most active December gold contract on the COMEX division of the New York Mercantile Exchange fell by $2.30 to $1,287 an ounce on Thursday.