US Gold Scrap prices advance; Gold Futures mark the best finish in two weeks

New York (Feb 18)  United States scrap gold prices advanced on the Scrap Register Price Index as on Friday, while gold futures prices at New York Mercantile Exchange marked the highest finish in two weeks.

 Gold futures advanced as progress in trade talks in the final day of this week’s round of U.S.-China trade negotiations was seen as bullish for the yellow metal, overshadowing strength in the dollar and a pick up in global equity markets.

 The major gold scrap commodities prices including 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap, 22ct hallmarked gold scrap, 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap on the Scrap Register Price Index advanced on Friday.

 The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices advanced by 0.39% to 478.895 an ounce, 747.076 an ounce, 957.790 an ounce and 1169.781 an ounce respectively.

 The 9ct non-hallmarked gold scrap, 14ct non-hallmarked gold scrap, 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices climbed to 452.975 an ounce, 706.642 ounce, 905.951 an ounce and 1106.468  an ounce respectively.

 The most active April gold contract on the COMEX division of the New York Mercantile Exchange gained by $8.20 to settle at $1,322.10 an ounce on Friday.

 Friday’s early gains erased a loss for the 5-day stretch, sending bullion up 0.3% for the week, based on last Friday’s settlement.

ScrapRegister