USA Gold Scrap, COMEX Gold Prices Decline on Strong Dollar

By Vibin Antony
United States gold scrap prices dropped on Monday in line with gold futures prices at New York Mercantile Exchange as the dollar rose and some investors adjusted their view on the path of U.S. interest rates.

The major gold scrap commodities on the Scrap Register Price Index traded down on Monday. The 9ct hallmarked gold scrap prices down to $412.22 an ounce and 14ct hallmarked gold scrap prices declined to $643.063 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $824.439 ounce and $1006.915 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $389.909 an ounce and 14ct non-hallmarked gold scrap prices down to $608.258 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $779.818 an ounce and $952.417 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled down by $5.50 to $1,132.30 an ounce on Monday.

Gold utures prices at New York Mercantile Exchange settled down as investors opted for more riskier equity assets with most global stock markets in the U.S. and Europe trending higher on the Fed's decision not to raise interest rates for the time being.

With the dollar gaining strength, gold futures found no support to push higher. The US Fed last Thursday decided to maintain its interest rates unchanged at near zero levels, on concerns over a global economic slowdown. However, indications were the Fed would likely opt for rate hike some time later this year, mostly in December.

In an interview with CNBC, St. Louis Fed President James Bullard said the central bank could raise rates next month but noted that many things can change from one meeting to the next.

US Gold Scrap, COMEX Gold Prices Hit Best Since September 01

By Vibin Antony
United States gold scrap prices bounced back to above $1,000 a ton mark on Friday in line with gold futures prices at New York Mercantile Exchange as prices rallied on the back of the Federal Reserve’s decision to keep interest rates at historically low levels.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Friday. The 9ct hallmarked gold scrap prices advanced to $415.221 an ounce and 14ct hallmarked gold scrap prices rose to $647.744 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $830.441 ounce and $1014.246 an ounce respectively. The 22ct hallmarked gold scrap prices got as high as $1014.246 an ounce level, its most muscular level since September 01 this year.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $392.747 an ounce and 14ct non-hallmarked gold scrap prices up to $612.686 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $785.495 an ounce and $959.351 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange last traded up by $20.80 at $1,137.80 an ounce on Friday, that was the highest settlement since September 01.

Gold futures prices at New York Mercantile Exchange reached a two-week high after Fed Chair Janet Yellen cited concern over slowing growth in China and turbulence in global markets for keeping interest rates unchanged. That’s good news for gold bulls, suffering from prices near a five-year low.

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

USA Gold Scrap Prices Drop; Gold Futures Settles Higher as Fed Holds Rates Steady

By Vibin Antony
United States gold scrap prices declined on Thursday, while gold futures prices at New York Mercantile Exchange settled higher as some investor embraced the more dovish stance in the Federal Reserve's statement on interest rates.

The major gold scrap commodities on the Scrap Register Price Index declined on Thursday. The 9ct hallmarked gold scrap prices down to $406.491 an ounce and 14ct hallmarked gold scrap prices declined to $634.125 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $812.981 ounce and $992.921 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices also traded down to $384.49 an ounce and 14ct non-hallmarked gold scrap prices down to $599.804 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $768.98 an ounce and $939.181 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled higher by $11.20 an ounce to $1,129.90 an ounce on Thursday.

Bullion got a boost after the Fed kept interest rates unchanged following a two-day policy meet, in a bow to worries about the global economy, financial market volatility and sluggish inflation at home.

Gold had been weighed down all year on fears the Fed would soon hike interest rates from record-lows for the first time in nearly a decade. Following the Fed's decision on Thursday, the dollar slumped to a three-week low supporting gold prices.

Bullion's relief rally, however, might not last long as the central bank's move to refrain from raising rates this week only adds to the uncertainty over the timing of an eventual rate hike.

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

US Federal Reserve's Decision Boosts US Gold Scrap, COMEX Gold Prices

By Vibin Antony
United States gold scrap prices advanced on Wednesday in line with gold futures prices at New York Mercantile Exchange as a weaker dollar and declining inflation bolstered hopes the Federal Reserve would stand pat on interest rates.

The major gold scrap commodities on the Scrap Register Price Index advanced on Wednesday. The 9ct hallmarked gold scrap prices rose to $406.527 an ounce and 14ct hallmarked gold scrap prices advanced to $634.182 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $813.054 ounce and $993.01 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $384.524 an ounce and 14ct non-hallmarked gold scrap prices up to $ 599.858 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $769.048 an ounce and $939.265 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled up by $16.80 at $1,119.50 an ounce on Wednesday.

Gold prices have been under pressure in recent weeks as some investors wagered the Fed would soon raise interest rates for the first time in nearly a decade.

The policy shift, widely expected to occur before the end of 2015, is expected to dull the allure of gold, which doesn’t pay interest and costs money to hold.

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

US Scrap Gold Prices Advance; Gold Futures Drop Ahead of FOMC Meet

By Vibin Antony
United States gold scrap prices advanced on Tuesday, while gold futures prices at New York Mercantile Exchange settled down as the dollar strengthened against other currencies ahead of Federal Reserve's decision on US interest rates.

The major gold scrap commodities on the Scrap Register Price Index advanced on Tuesday. The 9ct hallmarked gold scrap prices rose to $402.289 an ounce and 14ct hallmarked gold scrap prices advanced to $627.571 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $804.579 ounce and $982.659 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $380.516 an ounce and 14ct non-hallmarked gold scrap prices up to $593.605 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $761.032 an ounce and $929.474 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled down by $4.70 at $1,103 an ounce on Tuesday.

Gold futures prices at New York Mercantile Exchange as investors weighed a slew of economic data ahead of the outcome of the Fed's two-day FOMC meet on Wednesday. The Fed will announce Thursday afternoon whether it will raise interest rates for the first time in about ten years.

Rates have been at effectively zero since the financial market meltdown of 2008. A rate hike is likely to drive gold prices lower, as the precious metal will lose much of its appeal as a hedge against inflation.

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

US Scrap Gold Prices Remain Almost Flat; Gold Futures Edge Up Ahead Of Fed Meet

By Vibin Antony
United States gold scrap prices remained almost flat on Monday, while gold futures prices at New York Mercantile Exchange settled slightly higher as investors set their sights on the crucial Federal Reserve decision on interest rates due out later this week.

The major gold scrap commodities on the Scrap Register Price Index traded almost flat on Monday. The 9ct hallmarked gold scrap prices remained flat at $411.056 an ounce and 14ct hallmarked gold scrap prices unchanged at $624.904 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also stayed flat at $801.159 ounce and $978.483 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices remained stable at $378.899 an ounce and 14ct non-hallmarked gold scrap prices traded flay at $591.082 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also unchanged at $757.798 an ounce and $925.524 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled up by $4.40 at $1,107.70 an ounce on Monday.

Gold futures prices at New York Mercantile Exchange as investors await the decision of the Fed on interest rate hikes, with many speculating an immediate hike by the Fed at the conclusion of its policy meet on Thursday.

The Fed will announce its policy decision Thursday afternoon, with market divided whether the central bank will raise interest rates. If a hike is indicated, then it would be the first since 2006. The uncertainty of a rate continues to roil markets after some mixed economic data in the last few weeks.

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

US Scrap Gold Prices Drop In Line With Gold Futures

By Vibin Antony
United States gold scrap prices dropped on Friday in line with gold futures prices at New York Mercantile Exchange as investors waited for a Federal Reserve policy meeting later this week for clarity on when the U.S. central bank will hike interest rates.

The major gold scrap commodities on the Scrap Register Price Index traded down on Friday. The 9ct hallmarked gold scrap prices down to $400.58 an ounce and 14ct hallmarked gold scrap prices declined to $624.904 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $801.159 ounce and $978.483 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $378.899 an ounce and 14ct non-hallmarked gold scrap prices down to $591.082 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $757.798 an ounce and $925.524 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange last ended at $1,103.30 an ounce on Friday, down more than 1.7% by the end of what was a shortened trading week due to the Labor Day holiday in Canada and the U.S.

Traders are awaiting the Fed's next policy statement on Sept. 17 for clues on the timing of a U.S. interest rate rise, before taking any big positions in gold.

Concerns over slowing growth in China, mixed economic data and volatility in financial markets have increased uncertainty about the timing of any rate increase, which had been expected as early as this month.

(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 Drop; COMES Gold Bounce Back From 4-Week Low

By Vibin Antony
United States scrap gold prices dropped on Thursday, while gold futures prices at New York Mercantile Exchange bounced back from 4-week low as investors continued to look for hints on the outcome of the Federal Reserve’s policy meeting next week.

The major gold scrap commodities on the Scrap Register Price Index traded down on Thursday. The 9ct hallmarked gold scrap prices down to $403.581 an ounce and 14ct hallmarked gold scrap prices declined to $629.586 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $807.161 ounce and $985.813 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $381.737 an ounce and 14ct non-hallmarked gold scrap prices down to $595.51 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $763.475 an ounce and $932.457 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange last traded up by $7.50 to $1,109.70 an ounce on Thursday. Gold futures settled down at $1,102 an ounce on Wednesday. That was the lowest settlement price since August 7.

Gold prices found additional support with the dollar weakening against a basket of some major currencies. While a September rate hike might be coin toss, it is widely anticipated that policy makers will tighten sometime before the year end.

The push higher for gold came amid volatility in US stocks, which turned higher, reversing downward momentum earlier in Thursday’s session.

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

US Scrap Gold Prices Drop Further; Gold Futures Hit 4-Week Low On Strong Dollar

By Vibin Antony
United States gold scrap prices declined on Wednesday in line with gold futures prices at New York Mercantile Exchange as a rise in Asian and European equities and strength in the US dollar lured investors away from the precious metal.

The major gold scrap commodities on the Scrap Register Price Index traded down on Wednesday. The 9ct hallmarked gold scrap prices down to $403.708 an ounce and 14ct hallmarked gold scrap prices declined to $629.784 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $807.416 ounce and $986.124 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $381.858 an ounce and 14ct non-hallmarked gold scrap prices down to $595.698 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $763.716 an ounce and $932.751 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange last traded down by $19 to $1,102 an ounce on Wednesday. That was the lowest settlement price since August 7. Gold prices have fallen 10 out of the last 12 sessions. That doesn’t include Monday, which didn't see a Comex settlement price because of the Labor Day holiday.

Gold prices were also weighed amid ongoing uncertainty about whether the Federal Reserve will increase interest rates later this month when it meets on September 16-17. Last week's U.S. jobs report failed to provide much clarity on when the U.S. central bank will decide to raise short term interest rates.

The timing of a Fed rate hike has been a constant source of debate in the markets in recent months. Gold has failed to attract strong investor interest as a safe haven despite the recent weakness in stocks due to worries over the Chinese economy, showing that the metal is struggling to find direction outside U.S. monetary policy.

The cabinet on Wednesday cleared the launch of a sovereign gold bond as an alternative to buying the metal, a government source said, a move that seeks to trim demand for the metal that the country imports heavily.

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

US Scrap Gold Prices Stay Below $1,000 An Ounce; Gold Futures Slip

By Vibin Antony
United States gold scrap prices advanced on Tuesday, while gold futures prices at New York Mercantile Exchange settled lower as investors turned their attention to a rally in the US stock market ahead of the Federal Reserve’s monetary-policy meeting next week.

The major gold scrap commodities on the Scrap Register Price Index advanced on Monday. The 9ct hallmarked gold scrap prices rose to $407.709 an ounce and 14ct hallmarked gold scrap prices advanced to $636.026 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $815.418 ounce and $995.898 an ounce respectively. The 22ct hallmarked gold scrap prices continued to stay below $1,000 an ounce.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $385.642 an ounce and 14ct non-hallmarked gold scrap prices up to $601.602 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $771.285 an ounce and $941.996 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange edged down by 40 cents to settle at $1,121 an ounce on Tuesday, after trading between a low of $1,114.70 an ounce and a high of $1,126 an ounce.

Gold futures prices at New York Mercantile Exchange settled down as the dollar trended lower. Drop seen after strong performances in global equity markets also impacted gold. China's Shanghai Composite Index jumped 2.9 percent, after a slew of support measures by Beijing.

The measures included tax exemption on dividends and a move to introduce a market-wide circuit breaker system to stabilize the market also helped investors shrug off weak data underlying weakness in the world's second-largest economy.

Investors also weighed some disappointing economic data, as China revised its GDP growth rate for 2015 downward from 7.4 percent to 7.3 percent.

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

US Scrap Gold Prices Down To Below $1,000/Oz On US Labor Day

By Vibin Antony
United States gold scrap prices declined on Monday, while gold futures at New York Mercantile Exchange were closed for the Labor Day holiday.

The major gold scrap commodities on the Scrap Register Price Index traded down on Monday. The 9ct hallmarked gold scrap prices down to $407.218 an ounce and 14ct hallmarked gold scrap prices declined to $635.26 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $814.436 ounce and $994.698 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $385.178 an ounce and 14ct non-hallmarked gold scrap prices down to $ 600.878 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $770.356 an ounce and $940.861 an ounce respectively.

A shortened trading week, due to the Labor Day Monday, will add uncertainty to the marketplace as investors wait one more week before the much anticipated Federal Reserve monetary policy meeting.

While global market uncertainty could benefit gold futures prices in the near-term, an impending rate hike -- the first in rise since June 2006 -- will continue to weigh on the marketplace.

December Comex gold futures ended its second consecutive week in negative territory, but managed to hold key support levels, closing Friday’s session at $1,121.40 an ounce, down almost 1% on the week.

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

US Scrap Gold Prices Stay Almost Flat; Gold Futures Slips On US Jobs Data

By Vibin Antony
United States gold scrap prices stayed almost flat on Friday, while gold futures prices at New York Mercantile Exchange settled slightly down after US payrolls data failed to allay uncertainty over the prospect of a near-term interest rate rise from the Federal Reserve.

The major gold scrap commodities on the Scrap Register Price Index traded almost flat on Friday. The 9ct hallmarked gold scrap prices remained flat at $411.056 an ounce and 14ct hallmarked gold scrap prices unchanged at $641.247 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also stayed flat at $822.111 ounce and $1004.072 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices remained stable at $388.808 an ounce and 14ct non-hallmarked gold scrap prices traded flay at $606.54 an ounce on Friday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also unchanged at $777.616 an ounce and $949.728 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange settled slightly down by $0.30 at $1,121.40 an ounce on Friday, While spot gold was down 0.4 per cent at $1,120.80 an ounce at 2.49 pm EDT.

December Comex gold futures ended its second consecutive week in negative territory, but managed to hold key support levels, closing Friday’s session at $1,121.40 an ounce, down almost 1% on the week.

Data from the Labor Department on Friday showed that non-farm payrolls rose 173,000 last month, a slowdown from July's upwardly revised gain of 245,000.

However, a drop in the unemployment rate to a near 7-1/2-year low and an acceleration in wages kept alive prospects of a Federal Reserve interest rate increase later this month. A top Federal Reserve policymaker said the data on the U.S. jobs market was "good" and did not change the outlook for monetary policy.

Gold has come under pressure this year from expectations the Fed will hike rates for the first time in nearly a decade. The metal has benefited from ultra-low interest rates, which cut the opportunity cost of holding bullion while pressuring the dollar.

The Fed has already indicated that the timing of a hike is largely data-dependent. The absence of Chinese buyers also weighed on gold, with markets in the major bullion consumer closed last week for public holidays.

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

US Scrap Gold Prices, Gold Futures Drop On Strong Dollar

By Vibin Antony

United States gold scrap prices dropped on Thursday in line with gold futures prices at New York Mercantile Exchange as a stronger dollar and concerns about higher interest rates in the US weighed on traders’ appetite for the haven asset.

The major gold scrap commodities on the Scrap Register Price Index traded down on Thursday. The 9ct hallmarked gold scrap prices down to $411.056 an ounce and 14ct hallmarked gold scrap prices declined to $ 641.247 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $ 822.111 ounce and $ 1004.072 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $388.808 an ounce and 14ct non-hallmarked gold scrap prices down to $606.54 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $777.616 an ounce and $949.728 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange last traded down by $9.40 to $1,124.20 an ounce on Thursday.

Gold futures prices at New York Mercantile Exchange settled down as the continued uptick in global stock markets lured investors to the riskier assets, limiting the safe haven appeal of the precious metal with little support from a strengthening U.S. Dollar.

Gold prices also reacted to some upbeat U.S. data that may tempt the Fed to raise interest rates despite China headwinds. ECB in a significant move decided to leave its interest rates unchanged. ECB President Mario Draghi's dovish comments at the press conference hinting that the central bank may consider further stimulus measures, provided a shot in the arm for markets.

The U.S. trade deficit narrowed more than expected in July, but weekly jobless claims increased more than anticipated. Investors now eagerly await the release of the employment report on Friday, which could give a strong indication of whether the Fed will decide to raise interest rates in September.

(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 Gold Scrap Prices, COMEX Gold Trade Down On Strong Dollar

By Vibin Antony
United States gold scrap prices dropped on Thursday in line with gold futures prices at New York Mercantile Exchange as a stronger dollar and concerns about higher interest rates in the US weighed on traders’ appetite for the haven asset.

The major gold scrap commodities on the Scrap Register Price Index traded down on Thursday. The 9ct hallmarked gold scrap prices down to $411.056 an ounce and 14ct hallmarked gold scrap prices declined to $ 641.247 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $ 822.111 ounce and $ 1004.072 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $388.808 an ounce and 14ct non-hallmarked gold scrap prices down to $606.54 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $777.616 an ounce and $949.728 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange last traded down by $9.40 to $1,124.20 an ounce on Thursday.

Gold futures prices at New York Mercantile Exchange settled down as the continued uptick in global stock markets lured investors to the riskier assets, limiting the safe haven appeal of the precious metal with little support from a strengthening U.S. Dollar.

Gold prices also reacted to some upbeat U.S. data that may tempt the Fed to raise interest rates despite China headwinds. ECB in a significant move decided to leave its interest rates unchanged. ECB President Mario Draghi's dovish comments at the press conference hinting that the central bank may consider further stimulus measures, provided a shot in the arm for markets.

The U.S. trade deficit narrowed more than expected in July, but weekly jobless claims increased more than anticipated. Investors now eagerly await the release of the employment report on Friday, which could give a strong indication of whether the Fed will decide to raise interest rates in September.

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

Southern European Hot Rolled Coil Steel Prices Decline to €351 per ton

By Vibin Antony
The Southern European hot rolled cold (HRC) steel prices declined by €5 per ton week-on-week at €351 per ton ex-works in the week ended August 21, as per the latest figures from the Steel Index.

In Europe specifically, improvements in demand from both automotive and construction markets have not been met with higher domestic prices due to increased import activity.

The summer lull will, in all likelihood, continue for the remainder of the month before participants return to the market.

North European HR coil spot prices slipped to €379 a ton ex-works early on in the week and remained stable at this 12-month low thereafter.

All the news this week has been about the Yuan devaluation in China and its impact on global markets at a time when the world’s largest steel producer’s finished steel exports hit record volumes.

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

Taiwan Containerized Scrap Import Prices Advance Further to $182 a ton

By Vibin Antony

Prices for containerized Taiwanese imports of HMS # 1&2 80:20 continued to advance to $182 a ton in the week ended August 21, as per the latest figures from The Steel Index.

According to TSI, index for containerized Taiwanese imports of HMS #1&2 80:20 rose $4 a ton the week to $182 a ton CFR Taiwanese port.

The volume of imported ISRI grade scrap was low, with overseas suppliers not willing to sell at the current bid levels from mills.

Domestic scrap suppliers are also in the same situation, and are not willing to budge until prices rise. This has led mills to again look the Chinese billet as an alternative to scrap.

Mill buyers in Taiwan, traditionally the second biggest export market for United States ferrous scrap, have continued to avoid US purchases in 2015. Taiwan’s market share (of U.S. scrap purchases) fell 32 percent year-over-year to 14 percent in the first five months of 2015.

United States Gold Scrap Prices Decline; COMEX Gold Down To $1,134.20 an Ounce

By Vibin Antony
United States gold scrap prices declined on Wednesday in line with gold futures prices at New York Mercantile Exchange as the dollar trended higher on some upbeat economic data from the US.

The major gold scrap commodities on the Scrap Register Price Index traded down on Wednesday. The 9ct hallmarked gold scrap prices down to $415.512 an ounce and 14ct hallmarked gold scrap prices declined to $648.198 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also down at $831.023 ounce and $1014.956 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices dropped to $393.023 an ounce and 14ct non-hallmarked gold scrap prices down to $613.115 an ounce on Wednesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded down to $786.045 an ounce and $960.023 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange last traded down by $5.60 at $1,134.20 an ounce on Wednesday.

Concerns over China and a possibly ill-timed U.S. interest rate hike in the offing have been making most markets jittery for the past month.

While Gold rallied in August due mostly to its safe haven appeal amid some sluggishness seen in the global economic growth.

In economic news from the US, a report from the Labor Department showed a notable increase in private sector employment in the second quarter with a more than expected rise of 3.3 percent, ahead of Friday's jobs data.

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

Northern European HRC Steel Prices Continue To Decline To €379 Per Ton

By Vibin Antony
Northern Europe hot rolled cold (HRC) steel prices continued to decline by €4 a ton week-on-week to €379 per ton in the week ended August 21, as per the latest figures released by The Steel Index.

North European HR coil spot prices slipped to €379 a ton ex-works early on in the week and remained stable at this 12-month low thereafter.

All the news this week has been about the Yuan devaluation in China and its impact on global markets at a time when the world’s largest steel producer’s finished steel exports hit record volumes.

In Europe specifically, improvements in demand from both automotive and construction markets have not been met with higher domestic prices due to increased import activity.

The summer lull will, in all likelihood, continue for the remainder of the month before participants return to the market.

According to MEPS, effective stainless steel selling figures in Europe are expected to continue to soften, month-on-month, until the end of this year. Gently rising transaction values are foreseen during the first half of 2016, driven by raw material costs. Stainless steel prices are likely to weaken as demand slows in advance of the traditional summer shut-down season.

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

United States Gold Scrap Prices Up; COMEX Gold Hits Two-Week High

By Vibin Antony
United States gold scrap prices advanced on Tuesday in line with gold futures prices at New York Mercantile Exchange, as a sell-off in global stock markets and downbeat economic data helped boost the metal’s investment appeal. Gold futures settled at their highest level in more than two weeks on Tuesday.

The major gold scrap commodities on the Scrap Register Price Index traded higher on Tuesday. The 9ct hallmarked gold scrap prices rose to $415.512 an ounce and 14ct hallmarked gold scrap prices advanced to $648.198 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also gained at $831.023 ounce and $1014.956 an ounce respectively.

As per Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices rose to $393.023 an ounce and 14ct non-hallmarked gold scrap prices up to $613.115 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also traded higher at $786.045 an ounce and $960.023 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange last traded up by $ 7.30 at $1,139.80 an ounce on Monday.

New York Gold futures settled up rebounded to end higher with investors seeking the safe haven appeal of the metal after some disappointing economic data from the China and the US.

The sharp sell-off in global equity markets, also prompted investors to turn to the precious metal. Global equity markets in U.S., Europe, and Asia were firmly in the red after the disappointing Chinese economic data.

(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 Copper Scrap Prices Advance; COMEX Copper Futures Decline

By Vibin Antony
United States major copper scrap commodities prices advanced on Monday, while copper futures prices at New York Mercantile Exchange declined as still sentiments remain weak on lingering worries over China's economy ahead of fresh factory data later in the week, but is set for a small monthly gain as a lull in demand over the summer petered out.

As per Scrap Register Price Index, major copper scrap commodities like #1 ins wire (cu 88-92%), #2 ins wire (cu 58-62%), bare bright (cu >99%), electric motors, enameled copper wire, no. 1 copper (cu 96-98%), no. 2 copper (cu 94-96%), no. 3 copper (cu 88-90%), sealed unit, starter and transformer winding (85%) advanced on Monday.

However, the most active Copper contract for December delivery on the Comex division of the New York Mercantile settled down by 90 points at 233.70 cents on Monday.

China accounts for about 40% of global copper demand, and fears that it would reduce its purchases have pushed copper prices to six-year lows in recent weeks.

However, in recent trading sessions, copper prices had shot higher as some bearish traders moved to close out bets on lower copper prices. Investors have been net-bearish on copper for 12 straight weeks, according to weekly data from the CFTC released on Friday.

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