US Scrap Gold prices advance further in line with Gold Futures

UNITED STATES May 12 2017 5:09 PM

WASHINGTON (Scrap Register): United States scrap gold prices advanced further on Thursday in line with gold futures prices at New York Mercantile Exchange as the US dollar took a break from recent strength and US and European equities declined.

The major gold scrap commodities on the Scrap Register Price Index gained on Thursday. The 9ct hallmarked gold scrap prices advanced to $444.921 an ounce and 14ct hallmarked gold scrap prices rose to $694.076 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded higher at $889.842 ounce and $1086.793 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices climbed to $420.84 an ounce and 14ct non-hallmarked gold scrap prices gained to $656.51 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also advanced to $841.68 an ounce and $1027.972 an ounce respectively.

The most active June gold contract on the COMEX division of the New York Mercantile Exchange advanced by $5.30 to end at $1,224.20 an ounce on Thursday.

The contract hasn’t closed higher in consecutive sessions since the two-day period ended April 28. The yellow metal briefly trimmed gains after data Thursday showed U.S. producer prices rose 0.5% in April.