US Scrap Gold prices drop; Gold Futures edge up

New YOrk (Jan 24)  United States scrap gold prices dropped on the Scrap Register Price Index as on Wednesday, while gold futures prices at New York Mercantile Exchange edged up as weakness in the leading dollar index offered support, but some strength in U.S. equities kept a lid on gains for the precious metal.

 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 fell on Wednesday.

 The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices declined by 0.18% to 465.527 an ounce, 726.223 an ounce, 931.054 an ounce and 1137.128 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 dropped to 440.331 an ounce, 686.917 ounce, 880.662 an ounce and 1075.582 an ounce respectively.

 The most active February gold contract on the COMEX division of the New York Mercantile Exchange slightly up by 60 cents to settle at $1,284 an ounce on Wednesday, after trading between $1,277.70 and $1,286.

 A mixed picture on the economic outlook and major global issues, including trade and Brexit uncertainty, has also contributed to recent gains for the haven metal.

ScrapRegister