Gold Futures gain for the first time in four sessions

New York (May 11)  United States gold scrap prices advanced on the Scrap Register Price Index as on Thursday, while gold futures prices at New York Mercantile Exchange settled higher for the first time in four sessions to mark the highest finish in almost two weeks as U.S. inflation came in lower than expected, sending the dollar lower.

 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 showed an up trend on Thursday.

 The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices gained by 0.376% to 479.713 an ounce, 748.353 an ounce, 959.427 an ounce and 1171.780 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 453.750 an ounce, 707.849 an ounce, 907.499 an ounce and 1108.359 an ounce respectively.

 The most active June gold contract on the COMEX division of the New York Mercantile Exchange advanced by $9.30 to $1,322.30 an ounce on Thursday.

 Even with three consecutive sessions of declines through Wednesday, gold has been confined in a tight range after hitting a two-month low of $1,305.60 last week.

ScrapRegister