US Scrap Gold prices climb; Gold Futures stay above $1200 an ounce

UNITED STATES March 14 2017 7:00 PM

NEW YORK (Scrap Register): United States scrap gold prices climbed on Monday, while gold futures prices at New York Mercantile Exchange marked their first advance after nine straight sessions of losses, underpinned by uncertainty surrounding elections in the Netherlands, after strong expectations for a Federal Reserve interest-rate hike on Wednesday clobbered precious metals.

The major gold scrap commodities on the Scrap Register Price Index dropped on Monday. The 9ct hallmarked gold scrap prices up by 0.129% to $438.028 an ounce and 14ct hallmarked gold scrap prices gained to $683.323 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded higher at $876.056 ounce and $1069.956 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $414.320 an ounce and 14ct non-hallmarked gold scrap prices advanced to $646.339 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher to $828.640 an ounce and $1012.046 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange rose by $1.70 to $1,203.10 an ounce on Monday. The contract ended at $1,201.40 an ounce Friday—the lowest finish since Jan. 30. The metal’s nine-session slide had marked the longest streak of declines since July 2015.