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Silver $53.85 Β· Oil falls from six-month high as Iran mediation eases supply concerns ‌ ‌ ‌ ‌ ‌
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Gold Mornings
Your weekday morning read on gold, metals and miners.
Issue #90 Β· Monday, October 26, 2026
Gold volatility (GVZ)  Cautious Β· 24.3  β–² from 24.1 yesterday
Worth noting  Newmont (NEM) moved -4.59% on the day.
Gold and silver posted modest gains while miner stocks fell sharply; geopolitical tensions in the Middle East remain a backdrop.
 
 

●  The Numbers

Gold$4,024.60  +0.42%
-3.26% this week
Silver$53.85  +0.25%
-5.49% this week
Platinum$1,542.10  -0.78%
-5.90% this week
Palladium$1,044.50  -0.20%
-6.42% this week
Copper$6.51  +0.56%
-0.39% this week

●  The Movers

Leaders

HG=F Copper+0.56%
GC=F Gold+0.42%
SI=F Silver+0.25%

Laggards

NEM Newmont-4.59%
GDX Gold Miners ETF-1.82%
B Barrick Mining-1.32%

The day's best and worst of the tracked metals and miners Β· day-over-day change.

●  The Read

Gold β€” description, not prediction

Trading below both its 50-day ($4,333.61) and 200-day ($4,530.72) averages β€” the longer-term trend reads as down. 30-day range $4,007.90–$4,424.90; currently in the lower third of that range. RSI(14) 34 β€” momentum weak.

See where every market sits on the daily page β†’

What's pushing gold today: the dollar & Treasury yields  on the Dollar & Yields page β†’

●  The Brief

 Oil falls from six-month high as Iran mediation eases supply concerns

Crude prices retreated after diplomatic efforts reduced immediate Middle East supply-disruption fears. Safe-haven demand for gold typically softens when geopolitical risk appetite improves. (Investing)

 European gas surges to 2022 highs amid Middle East war strain

Natural gas spiked sharply as regional conflict raises energy-supply uncertainty. Sustained geopolitical stress can reinforce demand for precious metals as portfolio hedges. (Investing)

 China's Argentina mining stake smaller than headline numbers suggest

Beijing's actual equity share in approved Argentine mining projects is 9.2%, not the commonly cited higher figure. Emerging lithium projects may grow Chinese investment presence there. (Mining.com)

 Gold breaks below $4,000 in descending channel technical formation

Gold dipped briefly below the $4,000 round number within a downtrend pattern. Miners underperformed bullion, suggesting equity-market headwinds pressured the sector today. (Investing)

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What is spot price?

The price for immediate delivery of a metal right now. It's the headline number β€” "gold is $2,400" means the spot price per troy ounce. Coins and bars trade at a premium above spot.

β€œMetals mirror the dollar and the day's mood β€” a description, not a forecast.”

Gold Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Metals carry risk β€” you can lose money, and past performance does not predict future results. Some links may be affiliate links; we may earn a commission at no cost to you. Prices via Yahoo Finance, captured each morning before the US open.

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