SMASH Recycling Morning Metals Report – September 3, 2026

[DATA ALERT: Gold: feed suspect — screen $4,446.00 diverges 9.3% from independent spot $4,900.00 (threshold 2.5%); Silver: feed suspect — screen $65.85 diverges 98.7% from independent spot $4,900.00 (threshold 2.5%); Platinum: feed suspect — screen $1,765.00 diverges 64.0% from independent spot $4,900.00 (threshold 2.5%); Palladium: feed suspect — screen $1,349.00 diverges 72.5% from independent spot $4,900.00 (threshold 2.5%); Copper: feed suspect — screen $6.62 diverges 99.9% from independent spot $4,900.00 (threshold 2.5%); Gold: settled +1.02% away from the 2026-09-02 morning print ($4,339.70 -> $4,383.90) — this move was never published in an article (unpublished settle step); Silver: settled +1.36% away from the 2026-09-02 morning print ($64.51 -> $65.39) — this move was never published in an article (unpublished settle step); Platinum: settled +1.15% away from the 2026-09-02 morning print ($1,736.00 -> $1,756.00) — this move was never published in an article (unpublished settle step); Palladium: settled +1.61% away from the 2026-09-02 morning print ($1,308.00 -> $1,329.00) — this move was never published in an article (unpublished settle step); Rhodium: settled +1.63% away from the 2026-09-02 morning print ($9,200.00 -> $9,350.00) — this move was never published in an article (unpublished settle step); Aluminum: settled +1.02% away from the 2026-09-02 morning print ($1.48 -> $1.49) — this move was never published in an article (unpublished settle step); Nickel: settled +1.18% away from the 2026-09-02 morning print ($7.41 -> $7.50) — this move was never published in an article (unpublished settle step); Zinc: settled -2.77% away from the 2026-09-02 morning print ($1.87 -> $1.81) — this move was never published in an article (unpublished settle step) — verify before publishing]

Prices as of September 03, 2026 at 07:31 AM CDT.

Market screen levels only — not yard pay prices. Actual buy prices at the scale will differ based on grade, moisture, contamination, and freight. The scrolling ticker at the top of this page shows live prices and may differ from the snapshot below.

Jump to:

• Gold — $4,446/oz ▲
• Silver — $65.85/oz ▲
• PGMs — Rh ▸ $9,350 · Pt ▲ $1,765 · Pd ▲ $1,349
• Copper — $6.62/lb ▲
• Aluminum — $1.50/lb ▲
• Steel Scrap — $413.00/mt ▸
• Macro Backdrop
• CAD — USD/CAD 1.3863

SMASH Recycling Takeaways for Today

• Gold & Silver — Clean up gold-bearing and silver-bearing scrap now. Use auctions or multiple bids. The tape is higher, but buyers still pay up more for clean, documented lots than mixed material.
• PGMs — If you have catalytic or plated material, move the good stuff first. Keep it sorted, tagged, and photo-documented. Rhodium is flat, so don’t sit on marginal lots waiting for a bigger pop.
• Copper — Sell clean copper now if your yard has it ready. Higher copper helps, but buyers still punish dirty loads, long turns, and bad paperwork.
• Aluminum — Push clean aluminum grades and hold back the junk. Buyers want clear packs, no contamination, and no guessing on grade.
• Big Picture — 6 of 8 metals are higher today, so let buyers compete and use clean, documented lots to sharpen price discovery.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $96.48/bbl, up $1.12 (+1.17%) day-over-day.

US Dollar Index (DXY): 99.11, down 0.32 (-0.32%) day-over-day.

**Oil near $100 with real yields rising. Energy costs up, money tighter. That’s your backdrop today.**

Brent is pushing toward triple digits again, now around **$96–97** with WTI in the low **$90s**. Higher fuel costs hit shred, haul, and yard power first, then show up in your buy prices and freight talks.

Rates stay high and are inching up. The **10‑year at 4.8%** and **2‑year at 4.4%** keep real yields over **2%**, which is a headwind for risk assets but supports “stress” trades like gold. The U.S. dollar index is a bit softer today, but the broader dollar is still firm, so export risk and FX moves stay on your radar.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $4,446/oz, up +$62.10 (+1.42%) day-over-day. Previous close: $4,384/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

**Gold is up today, but buyers still care more about clean, documented scrap than big price swings.** Spot gold is around **$4,446/oz**, up about **1.4%** today, even though it dropped in 3 of the last 5 sessions. With oil near **$96.48/bbl** and real rates still rising, investment money is cautious, so expect tight bids unless your gold cats and cores are clean, graded, and backed by photos and serial tracking.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $65.85/oz, up +$0.4570 (+0.70%) day-over-day. Previous close: $65.39/oz.
• 5-day trend: ↑ 3 of last 5 sessions.
• Gold/Silver ratio: 67.5:1.

**Silver is firmer at $65.85 an ounce, but this is not a clean breakout.** The metal is up about 46 cents, and the 5-day trend has now turned positive in 3 of the last 5 sessions. With the dollar still soft but real yields rising, sellers should lean on clean lots, good docs, and auction competition to find the market.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $1,765/oz, up +$9.00 (+0.51%) day-over-day. Previous close: $1,756/oz. MoM: +6.7%.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,349/oz, up +$20.00 (+1.50%) day-over-day. Previous close: $1,329/oz. MoM: +5.7%.
• Palladium 5-day trend: ↑ 3 of last 5 sessions.
• Rhodium (Rh): $9,350/oz, flat day-over-day. Previous close: $9,350/oz. MoM: +13.0%.
• Rhodium 5-day trend: ↑ 4 of last 5 sessions.

**PGM prices are firmer, but the tape is still uneven.** Platinum is up to **$1,765/oz** and palladium is **$1,349/oz**, while rhodium holds at **$9,350/oz**; that helps, but the 5-day trend is still choppy, so buyers may stay selective on dirty lots and weak paperwork. With Brent crude at **$96.48/bbl** and real yields rising, don’t expect a clean lift across the board — use tight grading, good photos, and full docs to get better reads from the market.

Copper — Current Indicators

• COMEX/Spot Copper: $6.62/lb, up +$0.0165 (+0.25%) day-over-day. Previous close: $6.61/lb.
• 5-day trend: ↑ 3 of last 5 sessions.

Copper is **up again**, sitting around **$6.62/lb**, with a small gain today and strength in 3 of the last 5 sessions. Oil is near $100 and real yields are rising, so don’t expect a runaway rally, but buyers still need copper and the trend is gently higher.

Aluminum — Current Indicators

• LME Aluminum: $3,299/tonne ($1.50/lb), up +$0.0031 (+0.21%) day-over-day. Previous close: $1.49/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum is **up**, but just a hair — around **$1.50/lb**, less than a cent higher today. Oil sitting near $100 and real yields rising hasn’t stopped steady demand, with prices up in 4 of the last 5 sessions, so you should expect buyers to stay picky but active on clean, well-documented aluminum loads.

Steel Scrap (Shredded (SHS), scrapmonster) — Current Indicators

• Steel Scrap Shredded (SHS) (SCRAP-SHS): $413.00/mt, flat day-over-day. Previous close: $413.00/mt.
• 5-day trend: → flat over last 5 sessions.
• HMS 1&2 (80:20) (SCRAP-HM): $366.00/mt (flat day-over-day).

Want to move PGM-bearing material, copper, aluminum, or steel scrap through competitive bidding? List your lots on SMASH Recycling and let vetted Canadian buyers compete for your scrap.