UNITED STATES February 15 2017 5:02 PM
NEW YORK (Scrap Register): United States scrap gold prices edged up on Tuesday, while gold futures prices at New York Mercantile Exchange settled down as the U.S. dollar strengthened on the back upbeat comments from Federal Reserve Chairwoman Janet Yellen on the nation’s economy.
The major gold scrap commodities on the Scrap Register Price Index traded slightly higher on Tuesday. The 9ct hallmarked gold scrap prices gained slightly by 0.695% to $447.685 an ounce and 14ct hallmarked gold scrap prices edged higher to $698.389 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also higher at $895.371 ounce and $1093.546 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $423.455 an ounce and 14ct non-hallmarked gold scrap prices up to $660.59 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded slightly higher at $846.91 an ounce and $1034.359 an ounce respectively.
The most active April gold contract on the COMEX division of the New York Mercantile Exchange down by 40 cents to settle at $1,225.40 an ounce on Tuesday after trading as high as $1,236 before the Yellen’s remarks.
Gold futures weaved between modest gains and losses as Yellen offered her testimony Tuesday. She’ll return to Capitol Hill to go before a House panel on Wednesday. Prices had notched their third straight loss on Monday, after logging a sixth weekly rise in seven weeks on Friday.