US Gold Scrap prices edge up; Gold Futures end lower for the week

UNITED STATES December 05 2016 6:12 PM

NEW YORK (Scrap Register): United States scrap gold prices climbed on Friday, while gold futures prices at New York Mercantile Exchange settled higher, paring their loss for the week as the US dollar and Treasury yields eased back in the wake of the monthly jobs report.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Friday. The 9ct hallmarked gold scrap prices gained by 1% to $426.861 an ounce and 14ct hallmarked gold scrap prices edged higher to $665.903 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also higher at $853.721 ounce and $1042.678 an ounce respectively. 

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $403.757 an ounce and 14ct non-hallmarked gold scrap prices down to $629.861 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $807.515 an ounce and $986.245 an ounce respectively. 

The most active February gold contract on the COMEX division of the New York Mercantile Exchange climbed by $8.40 to $1,177.80 an ounce on Friday. November’s tumble was the worst one-month percentage loss since June 2013

For the week, prices lost less than 0.1% from the settlement of the most-active December contract a week ago. The February contract was down near 0.3% for the week. 

The nation’s unemployment rate fell to a nine-year low in November and relatively strong job growth continued, with the economy adding 178,000 new jobs in the month, U.S. government data showed. The payrolls gain, however, was below forecasts.