Weekly Metal Price Report | 2026-10-30 07:51:37
The decline in hallmarked scrap gold prices during October 23–29, 2026, was primarily driven by a sharp correction in international gold prices, a stronger US dollar, rising crude oil prices and expectations of higher US interest rates.
SEATTLE (Scrap Monster): North American precious metals scrap prices, including gold, silver, and platinum across hallmarked and non-hallmarked segments, posted week-on-week losses on the ScrapMonster Price Index for the period from October 23 to 29, 2026.
The decline in hallmarked scrap gold prices during October 23–29, 2026, was primarily driven by a sharp correction in international gold prices, a stronger US dollar, rising crude oil prices and expectations of higher US interest rates. Uncertainty over further price declines encouraged some gold buyers and refiners to adopt cautious purchasing strategies.
The weakness was largely macroeconomic rather than a problem specific to the scrap gold market. Since hallmarked scrap gold is valued mainly on its gold content and purity, declines in benchmark bullion prices translated into lower scrap purchase prices.
The above were the key factors that led to a...