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Silver

Gold and Silver’s October Selloff: What Changed for Long-Term Owners?

Gold and silver were slightly higher early in October before a retreat widened their performance gap. This roundup reviews the price path, policy and demand developments, and implications for long-term physical owners.

Read the dispatch

Gold bullion bar beside two stacked silver bars and a silver round on a dark slate surface.

Next on the wire

Eight more dispatches on gold, silver, and the rates around them.

A single gold bullion bar on a dark stone surface beside a noticeably larger stack of silver bars and coins, visually representing the widening gold-silver ratio as silver underperforms gold.SilverSilver Breaks Below $50. Why Is It Falling Faster Than Gold?
Four gold bars in an open transport case, with a container ship and port cranes in Hong Kong’s harbor behind.GoldChina Gold Imports via Hong Kong: Up Over 28%, Demand Mixed
Gold and silver bullion bars on a dark stone windowsill overlooking a softly blurred city skyline.Metals marketsWorld Bank: Precious Metals May Ease in 2027 but Stay High
Four silver bullion bars stacked in an overlapping row on a dark brushed-steel surface, illustrating silver’s quiet retest of its 2026 low.SilverSilver Is Testing Its 2026 Low Again. This Time, It’s Not Panic.
Split-frame image of a declining red stock chart on a computer monitor next to a stack of gold bars and coins, representing gold’s price during an AI-stock-driven market selloffGoldChina’s AI Stocks Just Lost Nearly 40%. Does Gold Rise With the Panic, or Fall With It?
Stacked gold bars and a gold coin on a dark metal table, with a blurred industrial factory floor in the background.GoldWhy This Week’s Data Beat Still Matters for Gold Prices
Stack of silver bars arranged in a pyramid, with one bar pulled partway out of the middle row, lit by warm side lighting against a dark background — illustrating the reversal in speculative silver positioning ahead of the Fed’s October 2026 decision.SilverSilver Price Outlook October 2026: The Fed Hold Is Locked. Positioning Isn’t.
Federal Reserve building in Washington, D.C., where this week’s FOMC decision could move gold price today.Oil & energyGold Steadies Near $4,000 as Oil Eases and the Fed’s Biggest Week Begins

Spot and futures

Gold on the tape

Price moves, forecasts, and the flows that set the bullion bid.

Open Gold

A single gold bullion bar on a dark stone surface beside a noticeably larger stack of silver bars and coins, visually representing the widening gold-silver ratio as silver underperforms gold.SilverSilver Breaks Below $50. Why Is It Falling Faster Than Gold?
Four gold bars in an open transport case, with a container ship and port cranes in Hong Kong’s harbor behind.GoldChina Gold Imports via Hong Kong: Up Over 28%, Demand Mixed
Four silver bullion bars stacked in an overlapping row on a dark brushed-steel surface, illustrating silver’s quiet retest of its 2026 low.SilverSilver Is Testing Its 2026 Low Again. This Time, It’s Not Panic.

Industrial and monetary

Silver beside the bid

Deficits, lease rates, and the days silver outruns gold.

Open Silver

A single gold bullion bar on a dark stone surface beside a noticeably larger stack of silver bars and coins, visually representing the widening gold-silver ratio as silver underperforms gold.SilverSilver Breaks Below $50. Why Is It Falling Faster Than Gold?
Four silver bullion bars stacked in an overlapping row on a dark brushed-steel surface, illustrating silver’s quiet retest of its 2026 low.SilverSilver Is Testing Its 2026 Low Again. This Time, It’s Not Panic.
Stack of silver bars arranged in a pyramid, with one bar pulled partway out of the middle row, lit by warm side lighting against a dark background — illustrating the reversal in speculative silver positioning ahead of the Fed’s October 2026 decision.SilverSilver Price Outlook October 2026: The Fed Hold Is Locked. Positioning Isn’t.

Rates and inflation

Yields that move bullion

Fed votes, real yields, and the jobs and inflation prints traders price into metal.

Open Fed & yields

A single gold bullion bar on a dark stone surface beside a noticeably larger stack of silver bars and coins, visually representing the widening gold-silver ratio as silver underperforms gold.SilverSilver Breaks Below $50. Why Is It Falling Faster Than Gold?
Stacked gold bars and a gold coin on a dark metal table, with a blurred industrial factory floor in the background.GoldWhy This Week’s Data Beat Still Matters for Gold Prices
Stack of silver bars arranged in a pyramid, with one bar pulled partway out of the middle row, lit by warm side lighting against a dark background — illustrating the reversal in speculative silver positioning ahead of the Fed’s October 2026 decision.SilverSilver Price Outlook October 2026: The Fed Hold Is Locked. Positioning Isn’t.

Supply

Mines and vaults

Producer deals, ore grades, and the pits that feed the bullion market.

Open Mining

Gold bar in sharp focus against a blurred, illuminated world map, illustrating the jurisdictional risk behind the Gold Fields Northern Star takeover rejectionMiningGold Fields’ $27 Billion Bid Got Rejected. The Reason Is a Risk Bullion Doesn’t Carry.
Gold bar linked to five icons, including a border gate and digital token, illustrating Russia gold export controls and other institutional gold market moves.GoldGold’s Price Barely Moved. Five Institutions Repositioned Anyway.
Stacked gold bullion bars in soft directional light beside a blurred trading monitor showing mining stock tickers and a price chart, illustrating the divergence between gold mining stocks and physical gold bullion.MiningGold Fell 1.62% Today. Gold Miners Didn’t. Here’s the Math.

Latest dispatches

The front of the precious metals archive.

A single gold bullion bar on a dark stone surface beside a noticeably larger stack of silver bars and coins, visually representing the widening gold-silver ratio as silver underperforms gold.SilverSilver Breaks Below $50. Why Is It Falling Faster Than Gold?
Four gold bars in an open transport case, with a container ship and port cranes in Hong Kong’s harbor behind.GoldChina Gold Imports via Hong Kong: Up Over 28%, Demand Mixed
Gold and silver bullion bars on a dark stone windowsill overlooking a softly blurred city skyline.Metals marketsWorld Bank: Precious Metals May Ease in 2027 but Stay High
Four silver bullion bars stacked in an overlapping row on a dark brushed-steel surface, illustrating silver’s quiet retest of its 2026 low.SilverSilver Is Testing Its 2026 Low Again. This Time, It’s Not Panic.
Split-frame image of a declining red stock chart on a computer monitor next to a stack of gold bars and coins, representing gold’s price during an AI-stock-driven market selloffGoldChina’s AI Stocks Just Lost Nearly 40%. Does Gold Rise With the Panic, or Fall With It?
Stacked gold bars and a gold coin on a dark metal table, with a blurred industrial factory floor in the background.GoldWhy This Week’s Data Beat Still Matters for Gold Prices
Stack of silver bars arranged in a pyramid, with one bar pulled partway out of the middle row, lit by warm side lighting against a dark background — illustrating the reversal in speculative silver positioning ahead of the Fed’s October 2026 decision.SilverSilver Price Outlook October 2026: The Fed Hold Is Locked. Positioning Isn’t.
Federal Reserve building in Washington, D.C., where this week’s FOMC decision could move gold price today.Oil & energyGold Steadies Near $4,000 as Oil Eases and the Fed’s Biggest Week Begins
A gold bullion bar resting on a leather-bound ledger with blurred financial charts in the background, representing gold reservesGoldRussia Is Selling Its Gold, And That’s Good News For Owners
Stacked gold and silver bars with an oil pumpjack silhouetted at sunset, representing the gold silver ratio todayOil & energyGold Falls as Oil Pushes Fed Rate-Hike Bets Higher
Oil pumpjack on flat dry ground at golden hour under a deep blue skyOil & energyGold Buys Less Oil Than a Year Ago. It’s Still Twice the Norm.
Wall calendar with one date circled in blue ink, illustrating the timing of the Social Security COLA vs inflationFed & yieldsSocial Security’s 3.6% Raise Arrives Late by Design