By Vibin Antony
United States scrap gold prices traded down on Wednesday in line with future gold prices mainly on strong dollar.
According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap declined on Wednesday followed by the yellow metal's down-trend in future market on Tuesday.
As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked declined to $433.772 an ounce and 14ct Gold Scrap hallmarked traded down at $676.684 an ounce on Wednesday.
The prices of 9ct Gold Scrap non-hallmarked dropped to $410.295 an ounce and 14ct Gold Scrap non-hallmarked traded down at $676.684 an ounce.
The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last traded down $2.30 to $1,198.50 an ounce on Tuesday.
Testimony from Fed Chair Janet Yellen in front of the US Senate had no lasting effect on precious metals prices. The stronger US dollar continues to be a bearish underlying factor working against the precious metals bulls.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
United States scrap gold prices traded down on Wednesday in line with future gold prices mainly on strong dollar.
According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap declined on Wednesday followed by the yellow metal's down-trend in future market on Tuesday.
As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked declined to $433.772 an ounce and 14ct Gold Scrap hallmarked traded down at $676.684 an ounce on Wednesday.
The prices of 9ct Gold Scrap non-hallmarked dropped to $410.295 an ounce and 14ct Gold Scrap non-hallmarked traded down at $676.684 an ounce.
The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last traded down $2.30 to $1,198.50 an ounce on Tuesday.
Testimony from Fed Chair Janet Yellen in front of the US Senate had no lasting effect on precious metals prices. The stronger US dollar continues to be a bearish underlying factor working against the precious metals bulls.
(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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