US Gold Scrap prices fall in line with Gold Futures

UNITED STATES June 08 2017 6:09 PM
NEW YORK (Scrap Register): United States gold scrap prices fell on the Scrap Register Price Index as on Wednesday, while gold futures prices at New York Mercantile Exchange ended down, pulling back after posting gains for three sessions in a row as investors eyed moves in the U.S. dollar and awaited the outcome of a bevy of potential market-moving events this week.

The major gold scrap commodities on the Scrap Register Price Index dropped on Wednesday. The 9ct hallmarked gold scrap prices declined by 0.19% to $469.601 an ounce and 14ct hallmarked gold scrap prices fell to $732.578 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $939.202 ounce and $1147.079 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dipped to $444.185 an ounce and 14ct non-hallmarked gold scrap prices lost to $692.928 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $888.369 an ounce and $1084.995 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange fell by $4.30 to end at $1,293.20 an ounce on Wednesday, with the metal ending lower for the first time in four sessions.

On Thursday, the European Central Bank will make its announcement on monetary policy, the U.K. will hold a general election and former U.S. Federal Bureau of Investigation boss James Comey will offer testimony before a Senate panel, which is investigating Russian efforts to interfere in last year’s presidential race.