US Scrap Gold prices decline in line with futures market

March 6, 2015 Posted by admin

UNITED STATES March 06 2015 10:35 AM

NEW YORK (Scrap Register): United States major scrap gold commodities prices declined on Thursday in line with the price fall in futures market as short-covering dried up after buoying prices following the European Central Bank’s announcement that it will lift its 2016 inflation forecast.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap slipped on Thursday. The prices of 9ct Gold Scrap hallmarked dropped by 1.1% to $436.318 an ounce and 14ct Gold Scrap hallmarked traded down at $680.656 an ounce on Thursday.

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The prices of 9ct Gold Scrap non-hallmarked dropped by 1.1% to $412.703 an ounce on Thursday and 14ct Gold Scrap non-hallmarked traded down at $643.817 an ounce.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last trade down by $3.50 to $1,197.40 an ounce on Thursday.

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

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