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US Scrap Gold prices continue to drop; Gold Futures advance further
Jul 13,2017 09:20CST
industry news
United States scrap gold prices continued to drop on the Scrap Register Price Index as on Tuesday, while gold futures prices at New York Mercantile Exchange gained, getting a boost from political unce

UNITED STATES July 12 2017 7:14 PM

NEW YORK (Scrap Register): United States scrap gold prices continued to drop on the Scrap Register Price Index as on Tuesday, while gold futures prices at New York Mercantile Exchange gained, getting a boost from political uncertainty in the U.S., as investors awaited Federal Reserve Janet Yellen’s testimony to Congress this week for cues on the timing of expected interest-rate hikes.

The major gold scrap commodities on the Scrap Register Price Index declined on Tuesday. The 9ct hallmarked gold scrap prices dropped to $440.519 an ounce and 14ct hallmarked gold scrap prices down to $687.21 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $881.039 ounce and $1076.042 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices down to $416.677 an ounce and 14ct non-hallmarked gold scrap prices gained to $650.016 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $833.354 an ounce and $1017.803 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange gained by $1.50 to end at $1,214.70 an ounce on Tuesday.

Yellow metal prices for the metal had seen a 0.3% rise Monday after a solid U.S. jobs report issued late last week contributed to a drop in prices to their lowest level in about four months.

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