Precious Metal Scrap Prices: Weekly Market Report (October 30- November 5, 2026)

Weekly Metal Price Report  |  2026-11-06 06:39:13   |   By

The sharp decline in non-hallmarked platinum scrap prices was largely driven by a steep correction in international platinum benchmarks, amid sustained investment outflows, a stronger US dollar and expectations of higher interest rates.

Summary

  • North American Precious Metal Scrap Prices Decline Across Both Segments

    Gold, silver and platinum scrap prices recorded week-on-week losses across hallmarked and non-hallmarked categories between October 30 and November 5, 2026. The decline followed a correction in international bullion markets, although a late-week recovery in precious metals helped limit the overall losses.

  • Hallmarked Gold and Other Precious Metal Scrap Values Weaken

    Hallmarked gold prices declined across all major purity grades, with 22-carat scrap gold registering the largest drop of $3.71 per ounce. The 14-carat and 18-carat categories lost $2.38 and $3.04 per ounce, respectively, while platinum and silver prices fell by 5.10% and 3.31%.

  • Non-Hallmarked Platinum Leads Weekly Declines

    Non-hallmarked platinum scrap emerged as the weakest performer, falling 5.10% to settle at $1,070.86 per ounce. Gold prices also weakened across purity categories, while silver scrap recorded a substantial weekly decline of 3.32%, reflecting widespread pressure across the precious metals scrap market.

SEATTLE (Scrap Monster): Prices of gold, silver and platinum scrap declined across both hallmarked and non-hallmarked categories in North America during the week ended November 5, 2026. The ScrapMonster Price Index showed a broad downward movement between October 30 and November 5, reflecting weekly losses across all three precious metals.

Hallmarked Precious Metals Market

The weekly decline in hallmarked precious metal scrap prices was largely driven by a correction in global bullion markets, particularly the October 30 sell-off in gold and silver. Strong US economic data, persistent inflation and expectations of tighter Federal Reserve monetary policy strengthened the dollar and pushed up bond yields, reducing investment demand for non-yielding precious metals.

Additional pressure came from investor liquidation, margin-call-related selling and weakening risk sentiment amid volatility in global equity markets. Platinum and silver also faced concerns over industrial demand, particularly from the automotive, manufacturing and jewellery sectors, while subdued physical buying in key Asian markets added to the downward pressure.

However, gold and other precious metals staged a significant recovery towards the end of the week, thus limiting the overall losses.

These factors collectively contributed to the modest weekly decline in precious metal scrap prices recorded on the ScrapMonster Price Index.

Scrap gold prices came under pressure across all major purity segments during the week, with losses varying by karat. The 14-carat category shed $2.38 per ounce, while 18-carat scrap gold registered a larger decline of $3.04 per ounce. The downward movement reflected the broader weakness in bullion valuations, compounded by subdued buying interest and relatively muted market activity.

The 22-carat segment also faced considerable pressure, with prices retreating by $3.71 per ounce compared with the previous week. The accompanying chart captures the weekly price movement in 22-carat hallmarked gold.

 

Lower-purity material followed a similar trend, as 9-carat scrap gold lost approximately $1.52 per ounce over the same period.

The weakness extended beyond gold to other precious metals. Platinum prices recorded a substantial weekly loss of $57.49 per ounce, equivalent to a 5.10% decline. Silver followed suit, slipping 3.31% week over week on the ScrapMonster Price Index, underscoring the broad-based weakness across the North American precious metals scrap market.

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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 $2.25 per ounce, while 18-carat and 22-carat grades recorded declines of $2.88 and $3.51 per ounce, respectively. Lower-purity 9-carat material also moved lower, registering a $1.44 per ounce (0.10%) week-on-week drop.

Platinum scrap emerged as the weakest performer, posting a 5.10% decline to settle at $1,070.86 per ounce by the close of the week, as indicated in the chart provided below.

Silver scrap prices recorded a sharp 3.32% weekly decline.

The sharp decline in non-hallmarked platinum scrap prices was largely driven by a steep correction in international platinum benchmarks, amid sustained investment outflows, a stronger US dollar and expectations of higher interest rates. Concerns over weaker automotive demand, subdued jewellery consumption and expectations of a global platinum surplus further dampened market sentiment, intensifying downward pressure on scrap valuations.

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