US Scrap Gold prices rise in line with Future prices

January 16, 2015 Posted by admin

UNITED STATES January 15 2015 3:19 PMTweet 
NEW YORK (Scrap Register): United States scrap gold prices are continued to advance on Thursday in line with future prices. Furthermore, increased demand at domestic spot markets also influenced scrap prices . A downbeat US economic report and a stock market sell-off prompted safe-haven buying interest in gold.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap advanced on Thursday mainly due to the yellow metal’s up-trend in future market on Wednesday.

The most active February gold contract on the COMEX division of the New York Mercantile Exchange was last traded up $2.40 at $1,236.80 an ounce on Wednesday. US spot gold was last up $5.70 at $1,237.00.

As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked advanced to $449.231 an ounce and 14ct Gold Scrap hallmarked traded at 700.801 an ounce on Thursday.

The prices of 9ct Gold Scrap non-hallmarked advanced to $424.917 an ounce and 14ct Gold Scrap non-hallmarked traded at 662.871 an ounce.

 

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Article source: http://www.metal.com/newscontent/68939_us-scrap-gold-prices-rise-in-line-with-future-prices

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