US Scrap Gold prices decline; Spot Gold stays steady

May 26, 2015 Posted by admin

UNITED STATES May 26 2015 10:41 AM

NEW YORK (Scrap Register): United States gold scrap prices declined on Monday, while spot gold prices stayed stable as the dollar firmed near a one-month peak against a basket of major currencies on prospects of higher US interest rates this year.

US spot gold was steady at $1,206 an ounce on Monday as liquidity was thin due to US and British holidays.

The major gold scrap commodities on the Scrap Register Price Index declined on Monday. The 9ct hallmarked gold scrap prices dropped to $437.991 an ounce and 14ct hallmarked gold scrap prices down to $683.267 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $875.983 ounce and $1069.867 an ounce respectively.

As per Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices also dropped to $414.286 an ounce and 14ct non-hallmarked gold scrap prices down at $646.286 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $828.571 an ounce and $1011.962 an ounce respectively.

Last week Gold futures fell after data showed that U.S. inflation rose for a third straight month in April and following comments by Fed Chair Janet Yellen.

While US dollar index, was up 0.20% to 96.44 early on Monday. The dollar strengthened broadly on Friday after data showed that U.S. core CPI rose 0.3% in April and were 1.8% higher on a yoy basis, the largest increase since October.

(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/73467_us-scrap-gold-prices-decline-spot-gold-stays-steady

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