US Scrap Gold prices edge up; Gold Futures hit two-week high

UNITED STATES December 29 2016 6:52 PM

NEW YORK (Scrap Register): United States scrap gold prices edged up on Wednesday, while gold futures prices at New York Mercantile Exchange settled at two-week high, even as the dollar also firmed.

The major gold scrap commodities on the Scrap Register Price Index traded slightly higher on Wednesday. The 9ct hallmarked gold scrap prices gained by 0.318% to $412.711 an ounce and 14ct hallmarked gold scrap prices edged higher to $643.829 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also higher at $825.421 ounce and $1008.115 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $390.373 an ounce and 14ct non-hallmarked gold scrap prices advanced to $608.982 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly higher at $780.747 an ounce and $953.552 an ounce respectively.

The most active February gold contract on the COMEX division of the New York Mercantile Exchange down by $2 to $1, 141 an ounce on Wednesday. The yellow metal is attempting to snap a streak of seven weekly declines.