US Scrap Gold prices continue to climb in line with Gold Futures

UNITED STATES July 20 2017 7:13 PM

NEW YORK (Scrap Register): United States scrap gold prices continued to climb on the Scrap Register Price Index as on Wednesday in line gold futures prices at New York Mercantile Exchange as the U.S. dollar failed to rebound much from 10-month lows as prospects for more U.S. interest-rate hikes this year weaken.

The major gold scrap commodities on the Scrap Register Price Index advanced by 0.12% on Wednesday. The 9ct hallmarked gold scrap prices gained to $451.832 an ounce and 14ct hallmarked gold scrap prices rose to $704.858 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded higher at $903.664 ounce and $1103.675 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $427.377 an ounce and 14ct non-hallmarked gold scrap prices gained to $666.708 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also advanced to $854.754 an ounce and $1043.94 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange gained by 0.12 percent to end at $1,242 an ounce on Wednesday, after trading between $1,235.10 and $1,243.50. 

The contract held ground at its highest finish since July 30. It’s tallied a climb of roughly 2% over the past three sessions. A main bullish input for the precious metals markets has been a seriously eroding U.S. dollar index.