Precious Metal Scrap Prices: Weekly Market Report (October 16-22, 2026)
Weekly Metal Price Report | 2026-10-23 07:46:36
The weekly trend points to a shift in precious-metals demand toward gold and platinum rather than a broad-based precious-metals rally. Investors and buyers favored safe-haven and supply-supported metals, while silver faced weaker industrial-demand sentiment.
By Paul Ploumis
SEATTLE (Scrap Monster): North American precious metal scrap prices generally strengthened from October 16 to 22, 2026. Gold and platinum values rose across both hallmarked and non-hallmarked grades, while silver scrap prices declined on the ScrapMonster Price Index.
The weekly trend points to a shift in precious-metals demand toward gold and platinum rather than a broad-based precious-metals rally. Investors and buyers favored safe-haven and supply-supported metals, while silver faced weaker industrial-demand sentiment.
Hallmarked Precious Metals Market
Hallmarked scrap gold prices rose over the past week, supported by stronger global bullion prices, safe-haven demand amid geopolitical uncertainty, interest-rate cut expectations, and U.S. dollar fluctuations.
Against this backdrop, 14K, 18K, 22K and 9K gold prices moved higher during the week, reflecting broad strength in the North American precious-metals market rather than a purely grade-specific improvement.
Fourteen-carat scrap gold prices advanced by $21.54 per ounce over the week, supported by the broader strengthening in the gold market. The 18-carat grade posted a stronger gain of $27.61 per ounce, reflecting continued upward momentum across the segment.
Meanwhile, 22-carat hallmarked gold climbed by $33.72 per pound, with higher-purity material recording notable appreciation during the week. The chart below illustrates the weekly movement in 22-carat hallmarked gold prices.
The positive trend also extended to lower-purity grades, with 9-carat scrap gold rising approximately 0.93% week on week.
The broader precious metals scrap market witnessed a mixed trend. Silver scrap prices fell 1.61% from a starting level of $44.06 per ounce, while platinum advanced 0.06% over the week.
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Non-Hallmarked Precious Metals Market
Non-hallmarked gold scrap prices moved higher across the main purity categories during the week, supported by steady buying interest and favorable market conditions.
Fourteen-carat scrap recorded a weekly increase of $20.36 per ounce, while 18-carat and 22-carat grades gained $26.10 and $31.88 per ounce, respectively. The 9-carat segment also maintained the upward trend, posting a 0.93% week-on-week rise, as illustrated in the accompanying chart.
Silver scrap prices declined 1.61% over the week. The metal lost $0.68 per ounce from the previous week's opening price of $42.30 per ounce
Meanwhile, platinum scrap prices increased, registering a 0.06% weekly increase.
The rise in hallmarked and non-hallmarked gold and platinum scrap alongside falling hallmarked and non-hallmarked silver points to selective investor demand, with stronger safe-haven and supply-driven support for gold and platinum while silver faces weaker industrial-demand sentiment.
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Which precious metal recorded the strongest overall price performance in the North American scrap market during October 16–22, 2026?
Frequently Asked Questions
- How did North American precious metal scrap prices perform during October 16–22, 2026?
North American precious metal scrap prices recorded mixed movements during the week. Hallmarked and non-hallmarked gold prices rose across the major purity grades, while platinum prices edged higher by 0.06%. Silver scrap prices moved in the opposite direction, declining by 1.61%.
- Which hallmarked gold purity grade recorded the largest reported weekly price increase?
Among the hallmarked gold grades with absolute price changes provided, 22K gold recorded the largest reported increase, rising by $33.72 per pound. The 18K grade gained $27.61 per ounce, while 14K gold advanced by $21.54 per ounce. The 9K segment also increased by approximately 0.93% week on week.
- Why did silver scrap prices decline while gold prices increased?
Silver scrap prices fell by 1.61% as industrial-demand sentiment remained comparatively weak. Unlike gold, which benefited from safe-haven demand and favorable bullion-market conditions, silver faced pressure from concerns over industrial consumption. The divergence highlighted the selective nature of demand across precious metals during the week.
