US Scrap Gold Prices gain; Gold Futures marks highest closing level since Oct 28

February 6, 2016 Posted by admin

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NEW YORK (Scrap Register): United States scrap gold prices gained on Thursday; while gold futures prices at New York Mercantile Exchange settled higher as further weakness in the U.S. dollar and haven demand for the metal lifted prices to their highest settlement level since late October.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Thursday. The 9ct hallmarked gold scrap prices rose to $420.622 an ounce and 14ct hallmarked gold scrap prices advanced to $656.171 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $841.245 ounce and $1027.44 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $397.857 an ounce and 14ct non-hallmarked gold scrap prices up to $620.656 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $795.713 an ounce and $971.831 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange up by $16.20 to $1,157.50 an ounce on Thursday, the highest closing level for futures prices since October 28.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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NEW YORK (Scrap Register): United States scrap gold prices gained on Thursday; while gold futures prices at New York Mercantile Exchange settled higher as further weakness in the U.S. dollar and haven demand for the metal lifted prices to their highest settlement level since late October.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Thursday. The 9ct hallmarked gold scrap prices rose to $420.622 an ounce and 14ct hallmarked gold scrap prices advanced to $656.171 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $841.245 ounce and $1027.44 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $397.857 an ounce and 14ct non-hallmarked gold scrap prices up to $620.656 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $795.713 an ounce and $971.831 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange up by $16.20 to $1,157.50 an ounce on Thursday, the highest closing level for futures prices since October 28.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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Article source: http://www.metal.com/newscontent/86299_us-scrap-gold-prices-gain-gold-futures-marks-highest-closing-level-since-oct-28

US Scrap Gold prices continue to stay above $1000 an ounce mark; Gold Futures hit more than 3 months high

February 5, 2016 Posted by admin

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UNITED STATES February 04 2016 6:30 PM

NEW YORK (Scrap Register): United States scrap gold prices advanced on Wednesday; while gold futures prices at New York Mercantile Exchange register their highest settlement level in more than 3 months as a drop in the U.S. ISM services index weighed on the dollar, lifting the yellow metals investment appeal.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Wednesday. The 9ct hallmarked gold scrap prices rose to $411.765 an ounce and 14ct hallmarked gold scrap prices advanced to $642.353 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $823.53 ounce and $1005.805 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $389.479 an ounce and 14ct non-hallmarked gold scrap prices up to $607.587 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $778.958 an ounce and $951.367 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange up by $14.10 to $1,141.30 an ounce on Wednesday. Prices, which finished modestly lower on Tuesday, settled at their highest level since October 30.

Gold futures prices at New York Mercantile Exchange jumped to their highest since late October having outperformed most metals in 2016 on mixed economic data which kept investors on edge, while falling stocks and oil prices generated demand for safe haven assets.

Gold found support from increased concerns about the economic outlook after the weaker-than-expected ISM data showed a slowdown in the services sector in January this would suggest the Fed will be more likely to put interest rates on hold.

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UNITED STATES February 04 2016 6:30 PM     

NEW YORK (Scrap Register): United  States scrap gold prices advanced on Wednesday; while gold futures prices at New  York Mercantile Exchange register their highest settlement level in more than 3  months as a drop in the U.S. ISM services index weighed on the dollar, lifting  the yellow metal’s investment appeal.

The major gold scrap commodities on  the Scrap Register Price Index traded higher on Wednesday. The 9ct hallmarked  gold scrap prices rose to $411.765 an ounce and 14ct hallmarked gold scrap  prices advanced to $642.353 an ounce. The 18ct hallmarked gold scrap and 22ct  hallmarked gold scrap prices also gained at $823.53 ounce and $1005.805 an ounce  respectively.

According  to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced  to $389.479 an ounce and 14ct non-hallmarked gold scrap prices up to $607.587 an  ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked  gold scrap prices are also traded higher at $778.958 an ounce and $951.367 an  ounce respectively.

The most active April gold contract on the COMEX  division of the New York Mercantile Exchange up by $14.10 to $1,141.30 an ounce  on Wednesday. Prices, which finished modestly lower on Tuesday, settled at their  highest level since October 30.

Gold futures prices at New York  Mercantile Exchange jumped to their highest since late October having  outperformed most metals in 2016 on mixed economic data which kept investors on  edge, while falling stocks and oil prices generated demand for safe haven  assets.

Gold found support from increased concerns about the economic  outlook after the weaker-than-expected ISM data showed a slowdown in the  services sector in January this would suggest the Fed “will be more likely to  put interest rates on hold.”

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Article source: http://www.metal.com/newscontent/86212_us-scrap-gold-prices-continue-to-stay-above-1000-an-ounce-mark-gold--futures-hit-more-than-3-months-high

Louis Cammarosano: Gold and Silver – Exploding Demand/Diminishing Supplies

February 4, 2016 Posted by admin


— Posted Wednesday, 3 February 2016 | | Disqus

by Rory, The Daily Coin

Louis Cammarosano, Smaulgld, has been reporting the explosive sales of some of the worlds largest government mints. When ever one is discussing gold and silver China usually comes up in the conversation. China is one of the worlds largest producers of gold and is the largest importer of gold as well. China also imports a significant amount of silver.

When we began discussing China, Louis painted a picture of confiscation that was an interesting take on the concept and how one could confiscate the worlds gold with merely a smile and a few scripts of fiat currency.

Confiscation is a really nasty word. It makes people believe situations are going to happen and their lives are going to change. It also makes people believe that someone is going to break down their door and begin taking their things.

What if confiscation looked like this instead. We encourage everyone to acquire gold, as much as you can, and we will store it for you, in an allocated account. Or if you choose, you can keep it where ever you wish. What if people in one particular nation lived like this? Wouldnt those people and that nation actually be confiscating the worlds gold? Wouldnt all the gold naturally flow in that direction? Of course it would. Now that doesnt sound nasty at all does it? That is exactly what is happening, and has been happening for several years, in China.

In 2015 the Shanghai Gold Exchange (SGE) moved almost 2,600 TONS of gold through the Exchange. Currently the COMEX, which helps to determine the global price for gold, has less 100,000 ounces available for purchase. If you divide 100,000 by 16 you come up with 6,250 pounds. Said another way, just over 3 tons of gold. If you divide 2,600 by 365 you come up with 7.12 tons of gold moved on a daily basis through the SGE each and every day in 2015. Does something seem out of balance with this picture or is just me? The entity that sets the global price of gold has half a day of gold when compared to the SGE.

Global demand for both gold and silver is exploding. The demand for these items began ramping up approximately 3 years ago and has been on a steady up trend the entire time. Over the past three years the U.S. Mint has been forced to shut off sales on more than one occasion. The U.S. Mint has rationed sales of American Silver Eagles since August 2015 and there seems to be no end in sight.

This is to say nothing of the Royal Canadian Mint (RCM) rationing sales of the Silver Maple Leaf along the same time line as the U.S. Mint. Both mints were completely out of product in July 2015 and sales ground to a halt for several weeks. The RCM has not fully recovered, nor has the USMint.

Mining production for the past three years has been on a down trend even though demand for product has been at all time highs. The price of silver has been so low the mines have been forced to maintain operations even though most are losing money. This trend is coming to an end as we are beginning to see bigger operations close segments, shut down completely or slow down their production to a trickle. Where is the gold and silver going to come from once these mines have been stripped bare or shut down? Scrap gold and silver? Not right now. Scrap coming to market is almost nonexistent. Only with a price increase will we see more scrap coming online.

Steve St. Angelo at SRSrocco Report has been reporting falling mine production for the past two years. A few months ago he detailed how entire countries are beginning to report drops in mining production. The decline in mining production is not limited to precious metals, but is effecting base metals like zinc, copper and lead as well. All of which produce silver and gold as a by-product.

Where is gold and silver going to come from as the year progresses? As more mines slow or close what is going to happen to the price of gold and silver? Is demand slowing or picking up? When does the whole thing blow apart? Got physical?

Lets listen in to one of the more lively conversations I have had recently. Louis is a great guest and brings a lot of knowledge, energy and a few laughs to the table. We believe you will learn a lot and be highly entertained at the same time.



— Posted Wednesday, 3 February 2016 | Digg This Article | Source: GoldSeek.com

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Article source: http://news.goldseek.com/GoldSeek/1454528518.php