AuAltinavcisiPrecious metals news and analysis

Latest dispatch

Silver

A Surging Jobs Report Knocked Gold Down. Silver Shrugged It Off.

Gold fell near 1% and silver held firm after October’s jobs report beat every forecast. Here’s why the two metals diverged, and what it means for the Fed’s December 8-9 decision.

Read the dispatch

Gold and silver price today after the jobs report: a gold bar sitting dimmer in shadow beside a sharply lit silver bar on a dark surface, symbolizing the two metals’ divergence

Next on the wire

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

Gold bullion bar on a stainless-steel weighing platform, with a second bar beside it and vault shelves blurred in the background.GoldGold ETF Holdings Rose in October. Why Did Fund Assets Fall 6%?
Bank of England’s stone façade beside a rain-dampened London street under an overcast sky.Fed & yieldsBank of England Rate Hike to 4%: Two Forces for Gold Owners
Three stacked gold bullion bars lit with warm golden light against a dark background, with a faint blue upward-curving line suggesting market momentum behind themFed & yieldsGold Tops $4,124 as Falling Yields Set Up a Friday Test
Stone columns of the U.S. Treasury building viewed through glass, with soft reflections in overcast daylight.Metals marketsTreasury Borrowing Forecast: $618 Billion, $24 Billion Catch
Gold bars and silver coins beside US dollar bills, illustrating the gold price rally after the midterm electionsSilverGold Tops $4,000, Silver Jumps as Democrats Sweep the Midterms
A gold bar in sharp focus beside a softer-focus silver bar on a dark surface, illustrating gold outpacing silver in today’s gold and silver price movesSilverGold Climbs to $3,966 as Silver Reclaims $50 on Election Uncertainty
Four gold bullion bars stacked on a steel table inside a vault, with shelves of gold bars softly blurred in the background.Central banksGold Buyers Split in Q3. Central Banks Bought 42% More
An oil barrel in soft focus beside a sharply lit gold bullion bar, symbolizing falling oil prices driving today’s gold and silver rebound.SilverGold and Silver Rebound Hard

Spot and futures

Gold on the tape

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

Open Gold

Gold bullion bar on a stainless-steel weighing platform, with a second bar beside it and vault shelves blurred in the background.GoldGold ETF Holdings Rose in October. Why Did Fund Assets Fall 6%?
Bank of England’s stone façade beside a rain-dampened London street under an overcast sky.Fed & yieldsBank of England Rate Hike to 4%: Two Forces for Gold Owners
Three stacked gold bullion bars lit with warm golden light against a dark background, with a faint blue upward-curving line suggesting market momentum behind themFed & yieldsGold Tops $4,124 as Falling Yields Set Up a Friday Test

Industrial and monetary

Silver beside the bid

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

Open Silver

Three stacked gold bullion bars lit with warm golden light against a dark background, with a faint blue upward-curving line suggesting market momentum behind themFed & yieldsGold Tops $4,124 as Falling Yields Set Up a Friday Test
Gold bars and silver coins beside US dollar bills, illustrating the gold price rally after the midterm electionsSilverGold Tops $4,000, Silver Jumps as Democrats Sweep the Midterms
A gold bar in sharp focus beside a softer-focus silver bar on a dark surface, illustrating gold outpacing silver in today’s gold and silver price movesSilverGold Climbs to $3,966 as Silver Reclaims $50 on Election Uncertainty

Rates and inflation

Yields that move bullion

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

Open Fed & yields

Bank of England’s stone façade beside a rain-dampened London street under an overcast sky.Fed & yieldsBank of England Rate Hike to 4%: Two Forces for Gold Owners
Three stacked gold bullion bars lit with warm golden light against a dark background, with a faint blue upward-curving line suggesting market momentum behind themFed & yieldsGold Tops $4,124 as Falling Yields Set Up a Friday Test
An oil barrel in soft focus beside a sharply lit gold bullion bar, symbolizing falling oil prices driving today’s gold and silver rebound.SilverGold and Silver Rebound Hard

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.

Gold bullion bar on a stainless-steel weighing platform, with a second bar beside it and vault shelves blurred in the background.GoldGold ETF Holdings Rose in October. Why Did Fund Assets Fall 6%?
Bank of England’s stone façade beside a rain-dampened London street under an overcast sky.Fed & yieldsBank of England Rate Hike to 4%: Two Forces for Gold Owners
Three stacked gold bullion bars lit with warm golden light against a dark background, with a faint blue upward-curving line suggesting market momentum behind themFed & yieldsGold Tops $4,124 as Falling Yields Set Up a Friday Test
Stone columns of the U.S. Treasury building viewed through glass, with soft reflections in overcast daylight.Metals marketsTreasury Borrowing Forecast: $618 Billion, $24 Billion Catch
Gold bars and silver coins beside US dollar bills, illustrating the gold price rally after the midterm electionsSilverGold Tops $4,000, Silver Jumps as Democrats Sweep the Midterms
A gold bar in sharp focus beside a softer-focus silver bar on a dark surface, illustrating gold outpacing silver in today’s gold and silver price movesSilverGold Climbs to $3,966 as Silver Reclaims $50 on Election Uncertainty
Four gold bullion bars stacked on a steel table inside a vault, with shelves of gold bars softly blurred in the background.Central banksGold Buyers Split in Q3. Central Banks Bought 42% More
An oil barrel in soft focus beside a sharply lit gold bullion bar, symbolizing falling oil prices driving today’s gold and silver rebound.SilverGold and Silver Rebound Hard
Gold bullion bar beside two stacked silver bars and a silver round on a dark slate surface.SilverGold and Silver’s October Selloff: What Changed for Long-Term Owners?
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