US Scrap Gold prices advance further; Gold Futures hit nearly six-month high

New York (Dec 21)  United States scrap gold prices advanced further on the Scrap Register Price Index as on Thursday, while gold futures prices at New York Mercantile Exchange hit highest settlement in almost six months, marking a recovery from the after-hours decline for the precious metal that followed an expected Federal Reserve rate increase.

 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 gained on Thursday.

 The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices gained by 0.698 percent to 458.234 an ounce, 714.845 an ounce, 916.468 an ounce and 1119.313 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 433.433 an ounce, 676.155 ounce, 866.865 an ounce and 1058.732 an ounce respectively.

 The February gold contract on the COMEX division of the New York Mercantile Exchange advanced by $11.50 to settle at $1,267.90 an ounce, the highest for a most-active contract since June 25.

 Prices have gained about 3.4% month to date. Gold had held its early gain after a mixed batch of economic releases early Thursday.

ScrapRegister