Precious Metal Scrap Prices: Weekly Market Report (October 23-29, 2026)
Weekly Metal Price Report | 2026-10-30 07:51:37 | By Carolina Curiel
The decline in hallmarked scrap gold prices during October 23–29, 2026, was primarily driven by a sharp correction in international gold prices, a stronger US dollar, rising crude oil prices and expectations of higher US interest rates.
SEATTLE (Scrap Monster): North American precious metals scrap prices, including gold, silver, and platinum across hallmarked and non-hallmarked segments, posted week-on-week losses on the ScrapMonster Price Index for the period from October 23 to 29, 2026.
Hallmarked Precious Metals Market
The decline in hallmarked scrap gold prices during October 23–29, 2026, was primarily driven by a sharp correction in international gold prices, a stronger US dollar, rising crude oil prices and expectations of higher US interest rates. Uncertainty over further price declines encouraged some gold buyers and refiners to adopt cautious purchasing strategies.
The weakness was largely macroeconomic rather than a problem specific to the scrap gold market. Since hallmarked scrap gold is valued mainly on its gold content and purity, declines in benchmark bullion prices translated into lower scrap purchase prices.
The above were the key factors that led to a modest decline in scrap gold pricing on the ScrapMonster Price Index.
Multiple purity grades recorded broad-based dips. Fourteen-carat scrap gold prices slipped by $48.21 per ounce, mirroring broader weakness in the bullion market. Similarly, eighteen-carat scrap values dropped by $61.81 per ounce over the week, weighed down by sluggish market participation and subdued purchasing interest.
On a week-over-week basis, 22-carat scrap gold registered a decline of $75.49 per pound, pressured by short term cyclical factors. The accompanying chart illustrates the weekly price trend for 22-carat hallmarked gold.
Lower-purity grades tracked the downward trajectory, with 9-carat scrap gold falling approximately $30.91 per ounce compared to the previous week.
Within the broader precious metals scrap complex, silver recorded a pronounced decline of $2.84 per ounce (6.55%), closing at $40.51 per ounce. Platinum prices followed a downward path as well, posting a 5.42% week-over-week drop on the Index, reflecting softer market momentum across the precious metals recycling sector.
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Non-Hallmarked Precious Metals Market
Scrap gold prices retreated across major purity segments during the week, in line with softer bullion-market fundamentals. Fourteen-carat scrap prices decreased by $45.58 per ounce, while 18-carat and 22-carat grades recorded declines of $58.44 and $71.38 per ounce, respectively. Lower-purity 9-carat material also moved lower, registering a $29.22 per ounce (2.07%) week-on-week drop.
Platinum scrap emerged as one of the weaker performers, posting a 5.42% decline to settle at $1,128.35 per ounce by the close of the week, as indicated in the accompanying chart.
Silver scrap prices recorded a steep 6.56% weekly fall.
Non-hallmarked silver scrap prices declined sharply last week, primarily due to a steep correction in international silver prices, a stronger US dollar and rising US Treasury yields. Expectations of higher-for-longer Federal Reserve interest rates, profit-taking by investors and liquidation of precious metal positions added to selling pressure. Additionally, concerns over weaker industrial demand and increased silver import availability in India further dampened market sentiment.