US Scrap Gold, Gold Futures prices advance as Trump-Xi meeting approaches

UNITED STATES April 05 2017 6:17 PM

NEW YORK (Scrap Register): United States scrap gold prices climbed further on Tuesday in line with gold futures prices at New York Mercantile Exchange as financial markets await a meeting later this week between President Donald Trump and Chinese President Xi Jinping.

The major gold scrap commodities on the Scrap Register Price Index gained on Tuesday. The 9ct hallmarked gold scrap prices advanced by 0.834% to $457.470 an ounce and 14ct hallmarked gold scrap prices rose to $713.653 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded higher at $914.940 ounce and $1117.447 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $432.710 an ounce and 14ct non-hallmarked gold scrap prices gained to $675.028 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also advanced to $865.420 an ounce and $1056.967 an ounce respectively.

The most active June gold contract on the COMEX division of the New York Mercantile Exchange rose $4.40 to end at $1,258.40 an ounce on Tuesday, its highest settlement since February 27. 

Over the recently completed first quarter, gold gained 8.6 percent, based on its most active contract.