US Scrap Gold, Gold Futures prices decline on strong equities, dollar

NEW YORK (Scrap Register): United States scrap gold prices dropped on Tuesday, while gold futures prices at New York Mercantile Exchange settled slightly lower as upbeat U.S. economic data provided a boost to equities and the dollar—dulling some investment demand for the precious metal.
The major gold scrap commodities on the Scrap Register Price Index dropped on Tuesday. The 9ct hallmarked gold scrap prices down by 0.023% to $457.325 an ounce and 14ct hallmarked gold scrap prices dropped to $713.427 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $914.649 ounce and $1117.092 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $432.573 an ounce and 14ct non-hallmarked gold scrap prices fell to $674.813 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $865.145 an ounce and $1056.631 an ounce respectively.
The most active April gold contract on the COMEX division of the New York Mercantile Exchange fell 10 cents to end at $1,255.60 an ounce on Tuesday, a day after prices notched a one-month settlement high. In electronic trading late Tuesday afternoon, prices fell below $1,250.
Investors, meanwhile, continued to weigh the outlook for the Trump administration’s fiscal-policy agenda following last week’s failed effort at overhauling the Affordable Care Act, known as Obamacare.