US Scrap Gold prices continue to advance; Gold Futures fall to start the week

By Vibin Antony
United States scrap gold prices continued to advance on the Scrap Register Price Index as on Monday, while gold futures prices at New York Mercantile Exchange settled lower, pulling back from the nearly five-month high they settled at late last week, as the U.S. dollar strengthened at the expense of the British pound.

The major gold scrap commodities prices including 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap, 22ct hallmarked gold scrap, 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap on the Scrap Register Price Index gained on Monday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices advanced by 0.164 percent to 452.996 an ounce, 706.674 an ounce, 905.992 an ounce and 1106.518 an ounce respectively.

The 9ct non-hallmarked gold scrap, 14ct non-hallmarked gold scrap, 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices gained to 428.478 an ounce, 668.426 ounce, 856.956 an ounce and 1046.630 an ounce respectively.

The February gold contract on the COMEX division of the New York Mercantile Exchange dropped by $3.20 to settle at $1,249.40 an ounce on Monday.

Gold notched its highest close since July on Friday as it logged its biggest weekly gain since August, all in the wake of market turmoil that sent stocks reeling and pressured Treasury yields and the U.S. dollar.

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

India Brass, Copper Scrap prices remain flat; Copper Futures inch up

By Vibin Antony
India’s major brass and copper scrap commodities prices remained flat on the Scrap Register Price Index as on Monday, while Copper Futures prices at India’s Multi Commodity Exchange inched up mainly due to anxiety over a weakening Chinese economy and a stronger dollar.

India's major brass and copper scrap commodities prices including brass pales scrap, brass pallu scrap, brass sheet cuttings, brass sheet scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire bars, copper wire scrap and electrolytic copper strip 25mm showed a flat trend on the Scrap Register Price Index as on Monday.

The most active February copper contract on India's Multi Commodity Exchange has up by 0.48 percent to Rs. 440.55 per kilogram on Monday from previous close of Rs. 438.45 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 444.35 per kilogram and an intra-day low of Rs. 434.30 per kilogram during Monday.

According to Chinese customs data released over the weekend showed a 3 percent year-on-year drop in unwrought copper imports by top consumer China. China's factory prices rose in November at their slowest pace since October 2016 as domestic demand lost further momentum, piling pressure on policymakers to unveil more measures to support the economy.

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