US Scrap Gold prices advance; Gold Futures score sharpest daily rise since mid-May

UNITED STATES August 10 2017 6:24 PM

NEW YORK (Scrap Register): United States scrap gold prices advanced on the Scrap Register Price Index as on Wednesday, while gold futures prices at New York Mercantile Exchange scored their sharpest daily rise since mid-May amid a war of words between the U.S. and North Korea.

The major gold scrap commodities on the Scrap Register Price Index gained on Wednesday. The 9ct hallmarked gold scrap prices advanced by 0.732 to $462.344 an ounce and 14ct hallmarked gold scrap prices rose to $721.257 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded higher at $924.689 ounce and $1129.353 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $437.321 an ounce and 14ct non-hallmarked gold scrap prices fell to $682.22 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $874.641 an ounce and $1068.229 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange advanced by $16.70 to end at $1,279.30 an ounce on Wednesday, posting its biggest single-session jump since May 17 when the metal added $22.30 or 1.8%.

North Korea’s recent threat to launch a missile strike at U.S. territory Guam has helped to elevate haven buying in global financial markets.