US Scrap Gold prices tumble; Gold Futures mark 6th weekly gain in a row

July 24, 2016 Posted by admin

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UNITED STATES July 11 2016 5:45 PM

NEW YORK (Scrap Register): United States scrap gold prices tumbled on Friday, while gold futures prices at New York Mercantile settled lower following a better-than-expected monthly report on U.S. employment, but prices still tallied a sixth weekly gain in a row as investors sought out assets deemed less risky.

The major gold scrap commodities on the Scrap Register Price Index traded lower on Friday. The 9ct hallmarked gold scrap prices fell to $492.608 an ounce and 14ct hallmarked gold scrap prices dropped to $768.469 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $985.217 ounce and $1203.278 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices declined to $465.947 an ounce and 14ct non-hallmarked gold scrap prices tumbled to $726.877 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down at $931.893 an ounce and $1138.152 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange settled down by $3.70 to $1,358.40 an ounce on Friday, extending losses from Thursday, when it snapped a three-session string of gains. The metal initially tanked by $24, or nearly 2%, after the jobs numbers were released before paring losses.

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UNITED STATES July 11 2016 5:45 PM

NEW YORK (Scrap Register): United States scrap gold prices tumbled on Friday, while gold futures prices at New York Mercantile settled lower following a better-than-expected monthly report on U.S. employment, but prices still tallied a sixth weekly gain in a row as investors sought out assets deemed less risky.

The major gold scrap commodities on the Scrap Register Price Index traded lower on Friday. The 9ct hallmarked gold scrap prices fell to $492.608 an ounce and 14ct hallmarked gold scrap prices dropped to $768.469 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $985.217 ounce and $1203.278 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices declined to $465.947 an ounce and 14ct non-hallmarked gold scrap prices tumbled to $726.877 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down at $931.893 an ounce and $1138.152 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange settled down by $3.70 to $1,358.40 an ounce on Friday, extending losses from Thursday, when it snapped a three-session string of gains. The metal initially tanked by $24, or nearly 2%, after the jobs numbers were released before paring losses.

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Article source: http://www.metal.com/newscontent/95094_us-scrap-gold-prices-tumble-gold-futures-mark-6th-weekly-gain-in-a-row

US Scrap Gold prices down; Gold Futures hit nearly one-week high

July 23, 2016 Posted by admin

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UNITED STATES July 20 2016 8:03 PM

NEW YORK (Scrap Register): United States scrap gold prices down on Tuesday, while gold futures prices at New York Mercantile Exchange ended higher and notching their best settlement in almost a week as some a pull back in U.S. stocks helped to support haven demand.

The major gold scrap commodities on the Scrap Register Price Index traded lower on Tuesday. The 9ct hallmarked gold scrap prices declined to $484.115 an ounce and 14ct hallmarked gold scrap prices dropped to $755.219 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $968.23 ounce and $1182.531 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices down to $457.913 an ounce and 14ct non-hallmarked gold scrap prices fell to $714.344 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded lower at $915.826 an ounce and $1118.528 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange settled rose by $3 to $1,332.30 an ounce on Tuesday, the highest settlement since last Wednesday.

Yellow metal prices rose 0.1% on Monday, after falling some 2% last week amid stock-market gains and Bank of England inaction on interest rates. Still, over the previous six weeks, gold had settled higher weekly for a cumulative gain of nearly 12%.

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UNITED STATES July 20 2016 8:03 PM     

NEW YORK (Scrap Register): United  States scrap gold prices down on Tuesday, while gold futures prices at New York  Mercantile Exchange ended higher and notching their best settlement in almost a  week as some a pull back in U.S. stocks helped to support haven  demand.

The major gold scrap commodities on the Scrap Register Price  Index traded lower on Tuesday. The 9ct hallmarked gold scrap prices declined to  $484.115 an ounce and 14ct hallmarked gold scrap prices dropped to $755.219 an  ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also  down at $968.23 ounce and $1182.531 an ounce respectively.

According to Scrap Register Price Index, the  9ct non-hallmarked gold scrap prices down to $457.913 an ounce and 14ct  non-hallmarked gold scrap prices fell to $714.344 an ounce on Tuesday. The 18ct  non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also  traded lower at $915.826 an ounce and $1118.528 an ounce  respectively.

The most active August gold contract on the COMEX division  of the New York Mercantile Exchange settled rose by $3 to $1,332.30 an ounce on  Tuesday, the highest settlement since last Wednesday.

Yellow metal  prices rose 0.1% on Monday, after falling some 2% last week amid stock-market  gains and Bank of England inaction on interest rates. Still, over the previous  six weeks, gold had settled higher weekly for a cumulative gain of nearly  12%.

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Article source: http://www.metal.com/newscontent/95710_us-scrap-gold-prices-down-gold-futures-hit-nearly-one-week-high

Gold Rebounds From Three-Week Low as Europe May Add Stimulus

July 22, 2016 Posted by admin

Gold rebounded from a three-week low after the European Central Bank said it will consider adding stimulus as needed once it has a clearer picture of the Brexit vote’s economic impact.

“If warranted to achieve its objective, the Governing Council will act by using all instruments available within its mandate,” ECB President Mario Draghi told reporters in Frankfurt on Thursday.

U.S. Federal Reserve Chair Janet Yellen cited Brexit “consequences” as among the factors that went into the decision to keep interest rates unchanged at a policy meeting in June. This is the first public acknowledgment from Draghi that Brexit is a bearish factor, said James Cordier, the founder of Optionsellers.com in Tampa, Florida.

“We have continued easy money, no signs of any interest rate rises,” Cordier said in a telephone interview. “Today’s ECB announcement confirms that the United States will be in the same dovish camp.”

Gold futures for August delivery rose 0.9 percent to settle at $1,331 an ounce at 1:39 p.m. on the Comex in New York. Prices earlier touched $1,310.70, the lowest for a most-active contract since June 28.

In other precious metals news:

  • Holdings in gold-backed exchange-traded funds fell 0.6 metric tons to 2,005.5 tons on Wednesday, data compiled by Bloomberg show.
  • Silver futures also rose on the Comex, while platinum and palladium gained on the New York Mercantile Exchange.

Article source: http://www.bloomberg.com/news/articles/2016-07-21/gold-drops-to-three-week-low-as-stocks-rise-on-signs-of-stimulus