UNITED STATES January 25 2017 7:06 PM
NEW YORK (Scrap Register): United States scrap gold prices edged up on Tuesday, while gold futures prices at New York Mercantile Exchange easing back after gains over the past two trading sessions lifted prices to their highest settlement in nearly 10 weeks on uncertainty for trade and economic policy under the Trump administration.
The major gold scrap commodities on the Scrap Register Price Index traded lower on Tuesday. The 9ct hallmarked gold scrap prices gained slightly by 0.325% to $442.611 an ounce and 14ct hallmarked gold scrap prices edged higher to $690.473 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also higher at $885.222 ounce and $1081.151 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $418.655 an ounce and 14ct non-hallmarked gold scrap prices up to $653.102 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly higher at $837.310 an ounce and $1022.635 an ounce respectively.
The US dollar strengthened a bit, putting pressure on dollar-denominated prices for the yellow metal and an analyst warned that gold demand from China soon ease as the nation gears up to celebrate the Lunar New Year holiday this weekend.