Gold and silver came under renewed pressure after hot US CPI and PPI data, but gold ETF holdings rose to their highest level of the year despite oil and rate headwinds. Gold briefly dipped below $4,100 an ounce before recovering as Treasury yields and the dollar eased, and the implied probability of a Fed hike at the 28 October meeting fell. Bloomberg-tracked gold ETF holdings reached 101.3 million ounces on 8 October, up 5.3% from their 20 July low, with Asian-listed funds providing almost half of the 12-month increase. Silver fell below $60 an ounce, briefly approaching July lows near $55, before recovering above $57. Heraeus also said the National Bank of Kazakhstan plans to reduce gold's share of its reserves from about 78% to 75% by year-end, a rebalancing rather than a broader reversal in central bank demand.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on kitco.com ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
XAU/USD
• NeutralRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/16/2026 | 4,165.63 |
| Change that session | -0.13% |
PAXG/USDT
• NeutralPAX Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/18/2026 | 4,178.90 |
| Change that session | +0.57% |
XAUT/USDT
• NeutralTether Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/18/2026 | 4,178.07 |
| Change that session | +0.60% |
DXY
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 101.78 |
| Change that session | -0.20% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Silver Funds Grab 5M oz Off $55 as Gold Stalls Near $4 , 200
- Gold path to $6 , 000 and silver return above $90 depend on renewed investor confidence – Metals Focus
Gold prices have struggled as persistent inflation and rising interest rates push investors toward higher-yielding assets, but Metals Focus analyst Matthew Piggott says the market is consolidating rather than entering a bear market. Institutional and central bank buying has kept gold above $4,000 an ounce, and investors have repeatedly returned when prices fall toward that level. Metals Focus forecasts gold to average $5,330 an ounce in 2027, up 16% from this year's projected $4,600, with prices potentially approaching $6,000 in the fourth quarter. It expects silver to average $84.40 an ounce next year and rise above $90 in the fourth quarter. The main risk is the Middle East conflict, which keeps energy prices and inflation high, strengthens the dollar, and delays the expected gold rally.
- What's Up with Stocks, Cryptos, Gold & Silver? October 19th, 2026 | 1290 WJNO
This weekly market recap shows that so far in 2026 the Dow is up 7%, the S&P 500 up 12% and the Nasdaq up 13%, though many AI-linked companies have fallen into bear market territory, down 20% or more. Inflation is the key driver, with CPI at 3.7% and PPI at 6.2%, the highest wholesale rate since December 2022, leading investors to price in at least an 89% chance of another Fed rate hike this year. WTI crude closed above $101 per barrel as attacks on energy infrastructure continued in Russia, Ukraine and the Middle East. Through Friday, 9% of companies had reported third-quarter earnings, averaging 29% growth. Year to date, Bitcoin is down 8%, Ether 19%, gold 3% and silver 19%, while the S&P 500's P/E stands at 26.12 versus a historical average of 16.24.
- “Giant” fund aggressively buys more than 5 tonnes of gold in just one day
SPDR Gold Trust, the world's largest gold fund, bought more than 5 tonnes of gold on 16 October, lifting its holdings to 1,059 tonnes after a series of reversals in recent sessions. Spot gold closed at $4,165 an ounce, down 0.1%, after briefly nearing $4,200. Prices had peaked near $4,700 in late August and dropped to around $4,100 in early October. Investors are weighing persistent inflation against worries about high borrowing costs, and markets now price about an 83% chance the Fed holds rates at its 27–28 October meeting. Oil above $100 a barrel adds to inflation expectations, which the article says could limit gold's recovery.
- BC-Gold-Silver
Gold and silver futures on the NY Merc settled lower on Monday across the listed contract months. The Oct 26 gold contract settled at $4,139.00 per troy oz, down $20.50, while the Dec 26 contract settled at $4,160.10, down $21.00. The Oct 26 silver contract settled at $56.974 per troy oz.
- Salazar Resources to Begin Drilling the Yumi Gold-Silver Veins at Tarqui, with Porphyry Drilling Planned at Monja, Ecuador
Salazar Resources closed a $3,500,000 non-brokered private placement announced on October 8, 2026, and outlined its exploration plan. Phase 1 is about 1,500 metres of drilling in five holes at the Yumi gold-silver veins on its 100%-owned Tarqui project, with drilling expected to begin in late October 2026, and the veins have not previously been drilled. Selective rock-chip samples returned 105 g/t Au and 1,038 g/t Ag, and historical BHP holes intersected porphyry-style mineralization nearby, which the company interprets as lying on the periphery of a porphyry center not yet located. Phase 2 contemplates up to about 3,500 metres of drilling in four holes at the 100%-owned Monja copper-gold porphyry target from the first quarter of 2027, subject to surface access and permits. A soil survey of about 895 samples is also planned at Quimi, part of the Tarqui-Quimi project.
Related markets
Latest news
- Nscale in talks for $45 billion Anthropic AI deal as IPO looms
Nscale is in talks to secure a computing deal worth about $45 billion with Anthropic, according to Bloomberg News, which could strengthen the Nvidia-backed data center developer's bid for a roughly $30 billion valuation in its planned IPO. The proposed agreement would cover a second building at Nscale's Monarch campus in West Virginia, delivering 460 megawatts of capacity powered by Nvidia's Vera Rubin chips, and could be finalized within days, though terms could still change. Anthropic already has infrastructure agreements with Nscale worth as much as $44.6 billion, according to Nscale's IPO filing, and holds a right of first refusal on the campus's anticipated third building. Investors are scrutinizing AI infrastructure economics, and Nscale faces questions similar to CoreWeave's about financing, execution and converting its backlog into cash flow, since its contracts are future commitments rather than collected cash. Representatives for Nscale and Anthropic declined to comment.
- Trump says he'd meet with Putin and Xi, criticizes Zelenskyy
President Donald Trump said he would meet Russian President Vladimir Putin and Chinese President Xi Jinping to discuss ending the Ukraine war, and suggested such a meeting could happen without Zelenskyy present. He said Russia and China have done 'very little' to help Tehran, which has been accused of receiving their support in its military efforts against the U.S. Trump also criticized Zelenskyy's reaction to his decision to waive new sanctions against Russia, saying Zelenskyy 'doesn't know what he's talking about' and should have settled the war long ago. He added that 'it's time for somebody else to negotiate on behalf of Ukraine,' echoing his earlier call for Kyiv to get a new president.
- Market participants weigh in on SEC’s proposed crypto regulations
The SEC will close public comment on its “Regulation Crypto Assets” proposal, first introduced in August, on Tuesday. Over the 60-day period, the agency received about 140 comments on a proposed safe harbor that would keep token issuers from being treated as investment contracts, along with exemptions for offerings up to a set amount. The MiCA Crypto Alliance largely supported the proposed disclosure changes but asked the SEC to better define crypto-specific concepts and data structures. SkyBridge Capital founder Anthony Scaramucci also backed the rules, calling them a return to the Commission’s proper role, though he did not mention Congress’s inaction on the CLARITY Act. Some legal experts warn the rules could be overturned more easily than an act of Congress, and both the SEC and the CFTC remain understaffed at the leadership level.
- Why Lockheed Martin May Be an Underrated Stock to Buy Right Now
The article argues that Lockheed Martin (LMT) can withstand market volatility, with its stock up about 15% this year while still offering good value. In 2022, when the market fell, LMT’s total return including dividends was over 40%, compared with a negative 18% for the S&P 500, helped by its close ties to the U.S. government and strong defense spending. In the quarter ended June 28, revenue reached $20.1 billion, up 11% year over year. The stock trades at a forward P/E of about 16, below the S&P 500’s more than 19, and its dividend yields 2.6% versus the index’s roughly 1%. The company has raised its dividend for 24 consecutive years, which the article cites as a reason to hold the stock long term.
- Canadian dollar notches nearly four - week high on BoC rate hike bets
The Canadian dollar held most of its gains against the US dollar on Monday, as hawkish remarks from Bank of Canada Governor Tiff Macklem drew more attention than domestic inflation data. The loonie traded 0.3% higher at 1.4095 per US dollar, near its strongest intraday level since September 23. Macklem said the BoC expects to raise its quarterly inflation forecast significantly this month because of persistently high oil and petroleum prices. Swap market data showed about an 80% chance of a BoC rate hike on October 28, up from 30% on Friday, while the benchmark rate has stayed at 2.25% since last October. Canadian bond yields rose across the curve, with the 10-year up 11.1 basis points to 3.940%, as investors also awaited a nonbinding Alberta referendum on secession.
- Homebuilder Sentiment Drops To Lowest Level Since 2012
Builder confidence has fallen to its lowest level since 2012, according to the NAHB and Wells Fargo Housing Market Index. Rising mortgage rates and higher energy and material costs have pushed sentiment to a 14-year low, keeping many buyers on the sidelines. The headline index rose one point to 38, still well below the breakeven level of 50, with affordability cited as a top concern for both buyers and builders. Builders also face elevated land, labor and construction costs, while NAHB Chief Economist Robert Dietz pointed to global events and energy prices as headwinds. He said efforts to ease regulatory burdens could still help improve long-term housing supply.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.