United States scrap gold prices gained on the Scrap Register Price Index as on Friday, tracking the uptrend in gold futures prices at New York Mercantile Exchange mainly due to geopolitical turmoil and broader equity market weakness.
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 advanced on Friday.
The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices gained by 0.88 percent to 444.648 an ounce, 693.651 an ounce, 889.296 an ounce and 1086.127 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 advanced to 420.582 an ounce, 656.108 ounce, 841.164 an ounce and 1027.342 an ounce respectively.
The most active December gold contract on the COMEX division of the New York Mercantile Exchange gained by $8 to settle at $1,223 an ounce on Friday and a 1.2% gain for the week.
The yellow metal found a haven-related lift from geopolitical worries surrounding Britain’s planned exit from the European Union.
(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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