Precious Metal Scrap Prices: Weekly Market Report (May 1-7, 2026)
Weekly Metal Price Report | 2026-05-08 07:07:34
Scrap gold values strengthened across all major purity grades over the week, mirroring the upward momentum in the global bullion market.
By Paul Ploumis
SEATTLE (Scrap Monster): North American precious metals scrap prices—covering gold, silver, and platinum in both hallmarked and non-hallmarked categories—registered modest uptrend on the ScrapMonster Price Index during the first week of the current month (May 1-7, 2026).
Hallmarked Precious Metals Market
Hallmarked scrap gold prices recorded a slight week-on-week jump.
Recent increases in global hallmarked gold prices have been driven primarily by strong safe-haven demand amid geopolitical tensions, persistent inflation concerns, and uncertainty surrounding global economic growth. Continued central bank gold purchases, strong investment demand, and expectations of prolonged higher interest rates have also supported bullion prices worldwide.
These market trends were clearly mirrored in the ScrapMonster Price Index, which recorded widespread gains across multiple purity grades during the previous week.
Fourteen-carat scrap gold values edged higher by $53.94 per ounce, tracking the broader upward momentum in global bullion markets. Similarly, eighteen-carat scrap gold prices increased by $69.15 per ounce over the same period.
On a week-over-week basis, 22-carat scrap gold prices jumped by $84.46 per pound, driven by a mix of global and domestic factors.
The chart below highlights the weekly price movement of 22-carat hallmarked gold.
Lower-purity segments also mirrored the overall upward trend, with 9-carat scrap gold increasing by around $34.57 compared to the previous week.
In the broader precious metals scrap market, silver recorded a robust 5.52% gain to reach $58.47 per ounce, while platinum advanced by 2.40% week-on-week, indicating sustained recovery momentum.
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Non-Hallmarked Precious Metals Market
Scrap gold values strengthened across all major purity grades over the week, mirroring the upward momentum in the global bullion market. Fourteen-carat scrap prices increased by $51.01 per ounce, while eighteen-carat and twenty-two-carat grades recorded gains of $65.39 and $79.87 per ounce, respectively. Meanwhile, 9-carat scrap also posted a modest week-on-week rise of 2.07%, underscoring a generally firm trend across segments.
Platinum scrap prices recorded a moderate weekly increase, climbing 2.40% to settle at a price of $1,462.62 per ounce, according to the chart below.
Silver scrap prices posted a notable week-on-week increase of 5.53%, supported by higher global silver prices, strong industrial and investment demand, and a weaker U.S. dollar supporting precious metals..
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Frequently Asked Questions
- What drove the increase in hallmarked scrap gold prices?
Rising safe-haven demand, geopolitical tensions, inflation concerns, and continued central bank gold purchases supported higher global gold prices.
- Which precious metal recorded the strongest weekly gain?
Silver scrap posted the strongest weekly performance, rising by more than 5.5% during the period.
- Did non-hallmarked precious metals also move higher?
Yes. Non-hallmarked gold, silver, and platinum scrap categories all registered weekly gains on the Index.
