Precious Metal Scrap Prices: Weekly Market Report (January 30- February 5, 2026)
Weekly Metal Price Report | 2026-02-06 07:06:38
Even lower-grade 9-carat scrap mirrored the negative momentum, falling by 7.77 percent on a week-on-week basis.
By Paul Ploumis
SEATTLE (Scrap Monster): North American precious metal scrap prices, including gold, silver, and platinum in both hallmarked and non-hallmarked forms, posted modest declines on the ScrapMonster Price Index during the January 30– February 5, 2026 period.
Hallmarked Precious Metals Market
Hallmarked scrap gold prices posted weekly dip, mainly driven by profit-taking after a record rally as well as due to shift in monetary policy expectations and strength in U.S. dollar, according to the ScrapMonster Price Index. The reduced safe-haven pressure due to calmer geopolitical sentiment has dampened bullion demand.
Fourteen-carat scrap gold registered a notable decline of $237.04 per ounce, reflecting corrective selling that was triggered by profit-taking after substantial rallies. Eighteen-carat grades witnessed notable decline, falling by $303.90 per ounce over the same period, in alignment with the general downward trend in trading activity.
The 22-carat scrap gold edged lower by 7.77%, recording a substantial decline of $371.17 per ounce over the previous week’s prices. Weekly price movements for 22-carat hallmarked gold are illustrated in the accompanying chart.
Lower-purity material also registered decline due to broader bearish sentiment, with 9-carat scrap gold dropping by $151.95 per ounce on a week-on-week basis.
Across the wider precious metals scrap complex, silver prices registered the steepest decline, tumbling nearly 23.52 percent. Platinum followed suit, recording a solid 17.51 percent weekly decline, reflecting the overall weakness seen across the precious metals recycling market.
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Non-Hallmarked Precious Metals Market
Gold scrap prices weakened across major purity brackets during the week, driven by diminished urgency for safe havens. Fourteen-carat material posted a notable decline of $224.15 per ounce, while 18-carat and 22-carat grades recorded dips of $287.37 and $350.97 per ounce, respectively. Even lower-grade 9-carat scrap mirrored the negative momentum, falling by 7.77 percent on a week-on-week basis.
Platinum scrap underperformed the broader market, delivering a sharp downfall over the period. Prices slumped 17.51 percent, registering a weekly decline of $356.54 per ounce, as highlighted in the accompanying chart.
Silver scrap prices also tumbled, registering a strong weekly decline of 23.53 percent. The abrupt downturn in prices signals a sharp correction after an overextended rally and weakness in primary silver futures and spot prices.
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What was the primary driver behind the recent decline in North American precious metal scrap prices?
Frequently Asked Questions
- How did North American precious metal scrap prices perform during Jan 30–Feb 5, 2026?
Prices for gold, silver, and platinum scrap declined modestly to sharply on the ScrapMonster Price Index, with losses seen in both hallmarked and non-hallmarked categories.
- What drove the decline in hallmarked scrap gold prices?
The drop was mainly driven by profit-taking after a strong rally, shifting monetary policy expectations, a firmer U.S. dollar, and easing safe-haven demand amid calmer geopolitical conditions.
- Which gold purity levels recorded the largest declines?
Among hallmarked grades, 22-carat scrap gold saw the sharpest weekly decline, followed by 18-carat and 14-carat material. Lower-purity 9-carat scrap also moved lower.
