On the NY Merc on Monday, the November 2026 gold contract settled at 3,956.90 dollars per troy ounce, up 71.20, and the December 2026 contract settled at 3,969.60. The November 2026 silver contract settled at 50.720 dollars per troy ounce, and estimated gold sales were 180,461 contracts.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/30/2026 | 3,875.51 |
| Change that session | -3.63% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- World Gold Prices Suffer Steepest Drop in a Year
Spot gold fell 3.58% to $3,875.53 per ounce, its lowest level since October 2025, as a wave of tech-stock selling heightened concerns about returns on AI investments. Silver dropped 6.5% to $49 per ounce, breaking below $50 for the first time in 11 months, while palladium lost the $1,000 mark and platinum faced heavy selling. Commerzbank said the tech-stock slump could trigger selling of safe-haven assets such as gold, but still expects precious metals to recover. Gold has fallen about 30% from its record high of $5,595 per ounce in January, weighed down by expectations of interest rates staying high for longer and weaker gold demand in Asia. HSBC forecasts silver's 2027 average at $64 per ounce, down from its $71 forecast for this year.
- The Gold-Silver Ratio Just Hit 80. Here's What History Says Happens Next.
The gold-silver ratio, the number of silver ounces needed to buy one ounce of gold, has reached 80 with gold at $3,919 and silver at $49 per ounce. The 80-50 rule of thumb calls 50–80 neutral, but its results have been mixed: the ratio fell to 46 on Jan. 29, 2026, its lowest since 2011, and silver bought at $49 last October would have more than doubled, beating gold's roughly 40% gain, though investors who later switched back to gold lost ground. The article notes that silver's dual role as a precious and industrial metal, with about 74% of output a byproduct of other mining, leaves it exposed to rising rates, the Iran war and inflation. It cites a silver deficit forecast to widen from 40.3 million ounces in 2025 to 46.3 million ounces in 2026. Even with silver cheaper on this measure, the author says the ratio does not necessarily signal the best time to invest.
- 5 Non-Ferrous Metal Mining Stocks to Watch in a Challenging Industry
Zacks says prospects for the Mining - Non Ferrous industry remain challenged by volatile metal prices, rising costs, labor shortages and supply-chain issues, though demand is expected to be supported by the energy-transition trend. Copper futures slipped toward $6.50 per pound for a second straight session, gold fell below $4,000 per ounce, silver dropped below $51, and uranium stayed near six-month highs around $90 per pound. Miners face higher electricity, water, materials and freight costs, so they are focusing on cost reduction and digital innovation, while demand is driven by electric vehicles, renewable energy and the U.S. Infrastructure Investment and Jobs Act. The industry carries a Zacks Industry Rank of #188 out of 247, placing it in the bottom 24% and indicating dull near-term prospects. The article highlights Southern Copper (SCCO), Freeport-McMoRan (FCX), First Quantum Minerals (FQVLF), Lundin Mining (LUNMF) and Centrus Energy (LEU) as companies to watch.
- Silver prices down 60% from peak
Domestic silver prices fell to about 1.7 million VND per tael on the morning of 30/10, down more than 20% in a month and 60% from the early-year peak, or under 46 million VND per kg. International spot silver traded near 51.5 USD per ounce, 55% below its year high. Some investors did not collect their purchased bullion even after delivery dates arrived, a sharp contrast with the earlier frenzy. The World Bank's October report cut its 2027 average silver price forecast to 62 USD per ounce from 65 USD and projected 58 USD for 2028, citing weakening demand. Still, demand from electronics, data centers, autos and power infrastructure continues to grow, and geopolitical tensions could lift safe-haven demand above forecasts.
- Bloomberg Commodity Index 2027 Target Weights Announced
Bloomberg announced the 2027 target weights and composition for the Bloomberg Commodity Index (BCOM), which will remain made up of 25 exchange-traded contracts on physical commodities and take effect during the January 2027 roll period. Precious Metals rose to 19.49%, its second-highest weight in history, driven by Silver's increase to 4.56%, while Gold stayed the largest component at 14.93%, slightly below its 15% limit. Grains fell to 20.61%, a historical low, and Energy declined slightly to 29.37%, its third consecutive annual drop; Brent crude rose to a record-high 8.59% while WTI fell to a record-low 6.41%. Livestock rose from 5.64% to 5.94%, Softs fell from 9.17% to 8.84%, and Industrial Metals were essentially unchanged at 15.75%.
- BC-Gold-Silver
According to AP, the nearest gold futures contract on the NY Merc settled Monday at $4,022.30 per troy ounce, up 31.20. The Dec 26 contract settled at $4,038.40, up 30.50. Silver futures also rose during the session.
Related markets
Latest news
- Gold and silver sell-off a 'once-in-a-lifetime' buying opportunity?
After October's worst performance for gold and silver since 2008, Jen Bawden, founder of Bawden Capital, argues the sell-off could present a rare opportunity for long-term investors. She notes silver is down about 60% from its record high of 121.64 USD/ounce, while gold at one point hit its lowest level in a year. Pressures include expectations the Fed could raise rates again in December, oil above 100 USD per barrel amid Strait of Hormuz disruptions boosting demand for the dollar, and stock losses forcing funds to sell liquid assets. She points to 2008 and 2020, when gold and silver fell alongside equities before rebounding strongly; gold rose about 170% to August 2011 after the 2008 crisis.
- Apple (AAPL) Q4 2026 Earnings Call Transcript
Apple reported record September quarter revenue of $114.5 billion, up 12%, driven by iPhone sales rising 17% and Services hitting an all-time high of $31.6 billion. Diluted EPS rose 14% to $2.10, including a $0.05 benefit from tariff refunds. For the December quarter, the company guided revenue growth of 7% to 10% and gross margin of 45% to 46%, citing higher memory costs and constrained supply. Management described memory pricing as 'unprecedented' and said operating expenses rose 21% on AI-related R&D investment. The active installed base surpassed 2.5 billion devices.
- Australia raises interest rates to 18-year high
The Reserve Bank of Australia raised its cash rate by 25 basis points (0.25%) to 4.85%, its highest since November 2008 and the fifth hike this year. The move aims to curb inflation, with September CPI rising 4.3%, and the RBA expects inflation to stay above the 2-3% target until late 2027. Governor Michelle Bullock called inflation 'too high', mainly due to oil prices amid Middle East conflict and AI investment pushing up tech-related prices, and said rates would rise further if needed. She dismissed recession as the likely scenario, as Q2 GDP grew 2.1% year on year, down from 2.5% previously. The US and Canada raised rates for the first time in over 3 years, while the BOJ lifted its rate to a 31-year high in September.
- Asia stocks mixed as Apple outlook weighs; RBA raises rates to 18-yr high
Asian stocks were mixed on Tuesday as investors weighed Apple's outlook, which forecast lower gross margins for the holiday quarter on rising memory-chip costs and services growth below expectations, while positioning ahead of U.S. midterm elections. South Korea's KOSPI fell more than 3%, China's Shanghai Composite slipped 0.8%, while Hong Kong's Hang Seng rose 0.5%. The RBA raised its cash rate by 25 basis points to 4.85%, its highest since 2008 and the fifth hike this year, in a split decision with six board members voting for a hike and three preferring no change. The People's Bank of China will raise the foreign exchange deposit reserve ratio for financial institutions to 6% from 4%, effective November 15.
- A Vietnamese private conglomerate plans to invest about US$30 million to build an industrial production complex overseas
TBS Group signed a memorandum of understanding with Ahmad Luthfi, Governor of Central Java, Indonesia, on plans to invest about 30 million USD in a large-scale industrial complex in the province. The complex is expected to create jobs for about 10,000 local workers, with footwear design capacity of 8–10 million pairs per year and phase one targeting about 4–5 million pairs per year. The project opens room to expand cooperation into other industries, with specific details still to be studied in line with Indonesian law and investment procedures. Founded in 1989, TBS Group has produced for brands such as Skechers, Coach and Decathlon and is pursuing a more diversified production network. The article also describes the cross-shareholdings between the group's chairman and several real estate, logistics and listed companies.
- Australia lifts rates to 18-year high as AI boom, energy costs fuel inflation
The Reserve Bank of Australia (RBA) raised its benchmark rate by 25 basis points to 4.85%, the highest level in 18 years. It warned inflation would stay elevated through much of 2027, as energy costs and AI-related investment pushed up prices for technology goods, while fuel and commodity prices rose amid the Middle East conflict. The board voted 6–3 for the increase, with three members preferring to hold at 4.60%. It pushed back its forecast for inflation to return to the top of its 2%–3% target range until late 2027, about three quarters later than previously expected. Treasurer Jim Chalmers said the decision, though widely expected, is difficult news for families and businesses, and it contrasts with the US Federal Reserve's decision to hold rates last week.
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.