UNITED STATES March 10 2017 6:10 PM
NEW YORK (Scrap Register): United States scrap gold prices continued to decline on Thursday, while gold futures prices at New York Mercantile Exchange settled lower for an eighth consecutive session Thursday as the European Central Bank appeared less concerned about deflation and investors awaited an expected rate increase from the Federal Reserve next week.
The major gold scrap commodities on the Scrap Register Price Index fell on Thursday. The 9ct hallmarked gold scrap prices fell by 0.219% to $438.883 an ounce and 14ct hallmarked gold scrap prices dropped to $684.657 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $877.765 ounce and $1072.044 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $415.129 an ounce and 14ct non-hallmarked gold scrap prices fell to $649.023 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $830.257 an ounce and $1014.021 an ounce respectively.
The most active April gold contract on the COMEX division of the New York Mercantile Exchange fell by $6.20 to $1,203.20 an ounce on Thursday, the lowest close since January 30.
The yellow metal fell even as a rising dollar index paused its advance; gold and the dollar typically move inversely since a higher dollar makes gold more expensive for investors using another currency.