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SCRAPMONSTER | WEEKLY PRECIOUS METALS REPORT
North American Precious Metal Scrap Prices: Gold, Silver and Platinum Fall – October 30–November 5, 2026
North American gold, silver and platinum scrap prices declined across hallmarked and non-hallmarked categories during October 30–November 5, 2026. A sharp correction in international bullion markets pressured scrap valuations, although a recovery towards the end of the week helped limit losses.
By Paul Ploumis | Published: November 6, 2026 | Market data: October 30–November 5, 2026
Weekly Market Summary
- Gold scrap: Hallmarked 22-carat gold ▼ $3.71/oz; non-hallmarked 22-carat gold ▼ $3.51/oz. Other purity grades also declined.
- Silver scrap: Hallmarked silver ▼ 3.31%; non-hallmarked silver ▼ 3.32%.
- Platinum scrap: ▼ 5.10% across both segments. Non-hallmarked platinum ended the week at $1,070.86/oz.
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.
SCRAPMONSTER EDGE | PRECIOUS METALS ANALYSIS
Platinum Leads Weekly Percentage Declines Despite Late-Week Recovery
Platinum recorded a 5.10% weekly decline across hallmarked and non-hallmarked scrap, exceeding silver's losses of approximately 3.3%.
Gold scrap also weakened across all listed purity grades, although a recovery in international precious metal prices towards the end of the reporting period helped moderate the overall weekly decline.
Industry takeaway: For precious metals recyclers, refiners and buyers, the week's movements highlight the importance of monitoring individual metal benchmarks rather than treating gold, silver and platinum as a single market. Purity, recoverable metal content and the timing of bullion price changes remain important when evaluating scrap quotations.
Hallmarked Precious Metals Market
Market Drivers
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.
Hallmarked Gold Scrap Prices
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.
Hallmarked Gold: Weekly Price Changes
| Gold Purity | Weekly Change |
|---|---|
| 9-Carat Gold | ▼ $1.52/oz |
| 14-Carat Gold | ▼ $2.38/oz |
| 18-Carat Gold | ▼ $3.04/oz |
| 22-Carat Gold | ▼ $3.71/oz |
Hallmarked Silver and Platinum
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.
Non-Hallmarked Precious Metals Market
Non-Hallmarked Gold Scrap Prices
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.
Non-Hallmarked Gold: Weekly Price Changes
| Gold Purity | Weekly Change |
|---|---|
| 9-Carat Gold | ▼ $1.44/oz (0.10%) |
| 14-Carat Gold | ▼ $2.25/oz |
| 18-Carat Gold | ▼ $2.88/oz |
| 22-Carat Gold | ▼ $3.51/oz |
Non-Hallmarked Platinum Scrap Prices
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.
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.
Non-Hallmarked Silver Scrap Prices
Silver scrap prices recorded a sharp 3.32% weekly decline.
Pricing scope: This report presents week-over-week movements in North American precious metals scrap benchmarks from the ScrapMonster Price Index. Prices and movements vary by purity, hallmark classification, material quality, recovery value and buyer. Historical market observations should not be interpreted as live purchasing quotations.
