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Platinum Scrap Falls 5.36% as Gold and Silver Also Weaken
North American precious metal scrap benchmarks moved lower during October 2–8, 2026, with platinum recording the week's steepest decline. Gold weakened across all major hallmarked and non-hallmarked purity grades, while silver posted comparatively modest losses.
Published October 9, 2026
Reporting period: October 2–8, 2026
Week at a Glance
- Platinum: Hallmarked and non-hallmarked scrap benchmarks each fell ↓$66.94/oz, or ↓5.36%, the largest percentage decline among the tracked precious metals.
- Hallmarked Gold: All major purity grades declined, led in absolute terms by 22-carat scrap at ↓$71.51/oz.
- Non-Hallmarked Gold: All tracked grades moved lower, with 22-carat material down ↓$67.62/oz.
- Hallmarked Silver: Fell ↓$0.49/oz, or ↓1.07%, to $45.26/oz.
- Non-Hallmarked Silver: Declined ↓$0.46/oz, or ↓1.05%.
MONTREAL (Scrap Monster): North American scrap gold, silver and platinum prices finished the October 2–8 reporting period broadly lower across both hallmarked and non-hallmarked categories, according to the ScrapMonster Price Index.
Platinum was the week's clear underperformer, falling ↓5.36%, while silver declined just over 1%. Gold moved lower across every tracked purity grade, with the largest absolute dollar losses recorded in higher-purity material.
The weakness broadly coincided with pressure across international precious-metal markets. Gold futures recorded a weekly decline of approximately 3.6% over the reporting period as a stronger U.S. dollar and elevated Treasury yields weighed on non-yielding bullion.
Benchmark buying-price move: ScrapMonster weekly reports track benchmark market movements. Local buyer quotes can vary by purity, assay, form, quantity and location.
Hallmarked Gold Scrap Declines Across All Purity Grades
Hallmarked gold scrap prices moved lower across all major purity grades during October 2–8.
Fourteen-carat scrap gold fell ↓$45.67/oz, while 18-carat material recorded a larger weekly decline of ↓$58.55/oz.
Twenty-two-carat scrap posted the largest absolute loss among the hallmarked gold grades, falling ↓$71.51/oz. Nine-carat scrap gold declined ↓$29.27/oz.
| Hallmarked Gold Grade | Weekly Move | Direction |
|---|---|---|
| 9-Carat Gold Scrap | $29.27/oz | ↓ Lower |
| 14-Carat Gold Scrap | $45.67/oz | ↓ Lower |
| 18-Carat Gold Scrap | $58.55/oz | ↓ Lower |
| 22-Carat Gold Scrap | $71.51/oz | ↓ Lower |
Hallmarked Silver Falls 1.07%
Hallmarked silver scrap prices fell ↓$0.49/oz, or ↓1.07%, to close the reporting period at $45.26 per ounce.
Platinum Posts the Week's Steepest Decline
Hallmarked platinum scrap fell ↓$66.94/oz, or ↓5.36%, making platinum the weakest-performing precious metal category in the weekly ScrapMonster comparison.
The size of the decline was substantially greater than the approximately 1% drop recorded in silver scrap during the same period.
Non-Hallmarked Gold Tracks the Same Downward Pattern
Non-hallmarked gold scrap also weakened across every major purity grade.
Fourteen-carat material fell ↓$43.19/oz. Eighteen-carat gold declined ↓$55.37/oz, while 22-carat scrap recorded the largest absolute decline at ↓$67.62/oz.
Nine-carat scrap gold fell ↓$27.68/oz.
| Non-Hallmarked Gold Grade | Weekly Move | Direction |
|---|---|---|
| 9-Carat Gold Scrap | $27.68/oz | ↓ Lower |
| 14-Carat Gold Scrap | $43.19/oz | ↓ Lower |
| 18-Carat Gold Scrap | $55.37/oz | ↓ Lower |
| 22-Carat Gold Scrap | $67.62/oz | ↓ Lower |
Non-Hallmarked Platinum and Silver Also Decline
Non-hallmarked platinum scrap also fell ↓$66.94/oz, or ↓5.36%, from the previous week's level of $1,249.79 per ounce.
Non-hallmarked silver scrap declined ↓$0.46/oz, or ↓1.05%, compared with the previous week.
ScrapMonster Intelligence: What the Week's Moves Tell Us
Platinum was the clear outlier. Its ↓5.36% weekly decline was roughly five times the percentage loss recorded in silver scrap. That makes platinum, rather than gold or silver, the most significant precious-metal scrap move of the October 2–8 reporting period.
Gold showed a consistent purity ladder. In both hallmarked and non-hallmarked categories, the largest absolute dollar declines occurred in 22-carat material, followed by 18-carat, 14-carat and 9-carat scrap. That pattern is consistent with the greater fine-gold exposure of higher-purity material and should not be interpreted as a separate bearish signal for 22-carat scrap alone.
Hallmarked and non-hallmarked markets moved together. Every tracked gold purity declined in both categories, while platinum fell by the same percentage in both segments. The alignment indicates that the dominant weekly signal was broad precious-metal weakness rather than an isolated dislocation in one scrap category.
Silver was comparatively resilient. Hallmarked and non-hallmarked silver fell just over 1%, substantially less than platinum and less dramatically than the previous week's nearly 7% silver decline.
Market Context: Dollar, Yields and Fed Policy Remain in Focus
International precious metals faced a difficult backdrop during the reporting period. Gold reached a two-month low on October 7 as a firm U.S. dollar and elevated Treasury yields weighed on bullion.
Federal Reserve policy also remained a major focus for precious-metal markets. Higher interest rates and elevated bond yields increase the opportunity cost of holding non-yielding assets such as gold and silver.
For platinum, the week's larger decline highlights the metal's additional sensitivity to industrial-demand expectations, including automotive demand, alongside broader precious-metal market conditions.
Post-Report Market Note
The reporting window ended October 8. International precious metals rebounded on October 9, after the ScrapMonster weekly measurement period had closed.
The rebound does not change the October 2–8 weekly ScrapMonster benchmark movements reported above, but it is an important development to watch heading into the next reporting period.
What to Watch Next
- U.S. dollar: A stronger dollar can pressure dollar-denominated precious metals, while renewed weakness may provide support.
- Treasury yields: Elevated yields remain an important headwind for non-yielding gold and silver.
- Federal Reserve expectations: Markets continue to assess whether another U.S. rate increase will come before year-end.
- Platinum: Watch whether the sharp weekly decline attracts buying or whether industrial-demand concerns keep the metal under pressure.
ScrapMonster Market Read: The October 2–8 period was a broad down week for North American precious-metal scrap, but the magnitude of the moves was not uniform. Platinum experienced the clearest stress, gold declined consistently across the purity curve, and silver showed comparatively limited weakness. The October 9 rebound in international markets now creates an important test for whether some of those losses begin to reverse in the next ScrapMonster weekly comparison.
