UNITED STATES February 13 2017 6:13 PM
NEW YORK (Scrap Register): United States scrap gold prices fell on Friday in line with gold futures prices at New York Mercantile Exchange, but finished the week with a gain of more than 1% as the US dollar lost more ground against the yen during a joint conference between the leaders of Japan and the US.
The major gold scrap commodities on the Scrap Register Price Index showed a down trend on Friday. The 9ct hallmarked gold scrap prices fell by 0.687% to $446.794 an ounce and 14ct hallmarked gold scrap prices dropped to $696.999 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $893.588 ounce and $1091.369 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $422.612 an ounce and 14ct non-hallmarked gold scrap prices fell to $659.275 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $845.224 an ounce and $1032.3 an ounce respectively.
The most active April gold contract on the COMEX division of the New York Mercantile Exchange fell by 90 cents to $1,222 an ounce on Friday and climbed by 1.2% for the week. Gold tallied its sixth weekly gain in seven weeks.
Gold Futures saw sharper declines early Friday, pressured by strength in the dollar and U.S. equities, which dulled investor interest in the metal.