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US Scrap Gold prices up; Gold Futures settle lower at $1,202.60 an ounce

Industry News 11:40AM Mar 16, 2017 Source:Scrap Register

UNITED STATES March 15 2017 6:23 PM

NEW YORK (Scrap Register): United States scrap gold prices slightly up on Tuesday, while gold futures prices at New York Mercantile Exchange settled lower settled with a minor loss, a day after posting their first climb in 10 sessions, ahead of a widely-expected Federal Reserve interest-rate hike this week.
The major gold scrap commodities on the Scrap Register Price Index dropped on Tuesday. The 9ct hallmarked gold scrap prices down by 0.033% to $438.173 an ounce and 14ct hallmarked gold scrap prices dropped to $683.55 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $876.346 ounce and $1070.311 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $414.458 an ounce and 14ct non-hallmarked gold scrap prices fell to $646.554 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $828.915 an ounce and $1012.382 an ounce respectively.
The most active April gold contract on the COMEX division of the New York Mercantile Exchange fell 50 cents to $1,202.60 an ounce on Tuesday after tapping a low of $1,200.10 an ounce. The contract ended at $1,201.40 an ounce last week—the lowest finish since January 30.
The expectations for the increase have already rallied the dollar and depressed the yellow metals prices, which suffered from a nine-session decline to their lowest level since late January, before Monday’s modest rise.