UNITED STATES May 09 2017 7:04 PM
WASHINGTON (Scrap Register): United States scrap gold prices gained on Monday in line with gold futures prices at New York Mercantile Exchange after suffering its largest weekly loss of the year, but a firmer U.S. dollar kept the price move in check as global markets digested Sunday’s French election.
The major gold scrap commodities on the Scrap Register Price Index gained on Monday. The 9ct hallmarked gold scrap prices gained to $447.34 an ounce and 14ct hallmarked gold scrap prices rose to $697.85 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded higher at $894.679 ounce and $1092.702 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $423.128 an ounce and 14ct non-hallmarked gold scrap prices gained to $660.08 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also advanced to $846.256 an ounce and $1033.561 an ounce respectively.
The most active June gold contract on the COMEX division of the New York Mercantile Exchange gained by 20 cents to end at $1,227.10 an ounce on Monday, after trading as high as $1,236.90.
On Friday, the contract settled at $1,226.90 an ounce, with prices at their lowest level in about seven weeks. Prices finished about 3.3% lower for the week, which was the largest weekly percentage loss since the week ended November 11.