Precious Metal Scrap Prices Fall as Platinum Drops 5.16%

North American precious-metal scrap prices moved lower across gold, silver and platinum during the September 11–17 period. Platinum recorded the largest weekly decline at 5.16%, silver fell a little more than 2%, and gold scrap moved lower across all major hallmarked and non-hallmarked purity grades on the ScrapMonster Price Index.

By Paul Ploumis
Published September 18, 2026
Market period: September 11–17, 2026

MONTREAL (Scrap Monster): North American precious-metal scrap prices weakened across the hallmarked and non-hallmarked markets during the week of September 11–17, 2026, according to the ScrapMonster Price Index.

Gold moved lower across all four tracked purity grades. Silver also declined in both pricing categories, while platinum posted the sharpest percentage loss of the week at ↓5.16%.

The broad direction was consistent across hallmarked and non-hallmarked material, giving recyclers and precious-metal buyers a clear weekly signal: benchmark values moved lower across the full complex rather than in a single isolated grade.

What This Means for Precious-Metal Recyclers

• Platinum carried the largest weekly price risk: the benchmark fell ↓$71.24/oz, making it the biggest move among the tracked precious metals.
• Gold weakened across every purity grade: the largest dollar decline was in 22ct material, while 9ct posted the smallest absolute loss.
• Silver moved lower in both categories: hallmarked and non-hallmarked silver each lost a little more than 2%.
• The move was broad: both hallmarked and non-hallmarked markets moved in the same direction, rather than showing a split between pricing categories.
• For buying and settlement: weekly benchmark moves provide market context, but actual refinery, dealer and yard payouts vary with assay, purity, lot size, settlement terms and location.

Week-Over-Week Momentum Shift

The September 11–17 period marked a clear reversal in silver and platinum compared with the previous weekly report.

Gold therefore remained under weekly pressure for a second reporting period, while platinum and silver changed direction after advancing the week before.

Hallmarked Precious Metals Market

Hallmarked gold scrap declined across all four tracked purity grades during the week.

The dollar decline increased with gold purity because higher-purity scrap carries more underlying gold value per ounce. The direction, however, was the same across all four grades.

Hallmarked Silver Scrap

Hallmarked silver scrap fell ↓$1.13/oz, or ↓2.26%, to close the reporting period at $48.78/oz.

Hallmarked Platinum Scrap

Platinum recorded the largest decline in the hallmarked segment, falling ↓$71.24/oz, or ↓5.16%, over the week. The September 17 ScrapMonster benchmark stood at $1,308.08/oz.

Non-Hallmarked Precious Metals Market

Non-hallmarked gold scrap followed the same broad weekly direction, with all four tracked purity grades ending below the previous week’s levels.

The same purity pattern was visible here: higher-carat material posted the larger absolute dollar declines, while 9ct recorded the smallest change.

Non-Hallmarked Platinum Scrap

Non-hallmarked platinum scrap fell ↓$71.24/oz, or ↓5.16%, from the previous week’s $1,379.32/oz level. The September 17 benchmark stood at $1,308.08/oz.

Non-Hallmarked Silver Scrap

Non-hallmarked silver scrap declined ↓$1.09/oz, or ↓2.27%, to $46.83/oz.

Hallmarked vs. Non-Hallmarked: Weekly Comparison

Market Backdrop

The precious-metals scrap decline came during a volatile week for bullion and financial markets.

The Federal Reserve raised its benchmark interest-rate range by 25 basis points to 3.75%–4.00% on September 16. Higher policy rates can influence precious-metal benchmarks through bond yields, currency markets and investor positioning, although those macro factors should not be treated as a direct explanation for every scrap-price movement.

Gold entered the reporting period after a weak prior week in the international market, while platinum and silver had both risen in the previous ScrapMonster weekly report before reversing lower during September 11–17.

Market Read

The week’s most important feature was not simply that precious-metal scrap prices declined, but that the weakness was broad and consistent across both pricing structures.

Gold remained under pressure for a second consecutive week across the tracked purity grades. Platinum showed the sharpest reversal, moving from a 4.72% gain in the previous report to a 5.16% decline this week. Silver also changed direction, moving from a 0.93% gain to losses of just over 2% across the hallmarked and non-hallmarked benchmarks.

For recyclers, refiners and buyers, platinum carried the largest week-to-week valuation swing, while gold’s declines were more evenly distributed across purity grades. Silver sat between the two, with a meaningful but less severe weekly drop.

Bottom Line

North American precious-metal scrap finished the September 11–17 period lower across gold, silver and platinum.

Platinum was the clear downside leader at ↓5.16%. Silver fell a little more than 2% in both pricing categories, while gold declined across every tracked hallmarked and non-hallmarked purity grade.

The broad alignment between hallmarked and non-hallmarked prices makes this a straightforward weekly read: the weakness was market-wide across the ScrapMonster precious-metals benchmarks rather than limited to one purity grade or pricing category.