US Scrap Gold prices decline; Gold Futures mark the lowest settlement since February 01

UNITED STATES March 08 2017 10:19 PM

NEW YORK (Scrap Register): United States scrap gold prices declined on Tuesday, while gold futures prices at New York Mercantile Exchange extended their decline to a sixth-straight session to mark their lowest settlement in nearly five weeks.

The major gold scrap commodities on the Scrap Register Price Index fell on Tuesday. The 9ct hallmarked gold scrap prices fell by 0.937% to $442.556 an ounce and 14ct hallmarked gold scrap prices dropped to $690.388 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $885.113 ounce and $1081.018 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $418.604 an ounce and 14ct non-hallmarked gold scrap prices fell to $653.022 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $843.207 an ounce and $1022.509 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange fell by $9.40 to $1,216.10 an ounce on Monday, it marked the lowest settlement since February 01. Expectations for a U.S. interest-rate increase as early as next week dulled investment demand for the metal.