UNITED STATES February 09 2017 6:49 PM
NEW YORK (Scrap Register): United States scrap gold prices climbed further on Wednesday in line with gold futures prices at New York Mercantile Exchange as geopolitical uncertainty kept prices at their highest settlement level in about 13 weeks.
The major gold scrap commodities on the Scrap Register Price Index traded slightly higher on Wednesday. The 9ct hallmarked gold scrap prices gained slightly by 0.901% to $451.814 an ounce and 14ct hallmarked gold scrap prices edged higher to $704.83 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also higher at $903.628 ounce and $1103.631 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $427.36 an ounce and 14ct non-hallmarked gold scrap prices up to $666.682 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly higher at $854.72 an ounce and $1043.898 an ounce respectively.
The most active April gold contract on the COMEX division of the New York Mercantile Exchange rose by $3.40 to $1,239.50 an ounce on Wednesday, the highest finish since November 10.
Market participants attributed the latest run, at least in part, to persistent uncertainty about President Donald Trump’s political agenda.