US Gold Scrap prices fall; Gold Futures settle near $1,200 an ounce

NEW YORK (Scrap Register): United States scrap gold prices fell on Wednesday, while gold futures prices at New York Mercantile Exchange settled near $1,200 an ounce as Trump fuels market uncertainty.
The major gold scrap commodities on the Scrap Register Price Index traded lower on Wednesday. The 9ct hallmarked gold scrap prices dropped slightly by 0.92% to $428.698 an ounce and 14ct hallmarked gold scrap prices edged lower to $668.768 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $857.395 ounce and $1047.165 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices fell to $405.495 an ounce and 14ct non-hallmarked gold scrap prices down to $632.572 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly lower at $810.990 an ounce and $990.489 an ounce respectively. 
The most active February gold contract on the COMEX division of the New York Mercantile Exchange gained by $11.10 to $1,196.60 an ounce on Wednesday, the highest finish since November 22. Prices Wednesday traded between a low of $1,177 and a high of $1,198.50. 
Gold futures rallied just ahead of Wednesday’s settlement to finish at their highest level in seven weeks, with the U.S. dollar taking a turn lower as comments from President-elect Donald Trump fueled uncertainty in financial markets.