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Payrolls Beat by 100,000 and Gold Still Can't Find a Floor

October payrolls came in at 165,000 against about 65,000 expected. Gold fell, silver slipped, and the December hike case got stronger.

Ounce by Ounce · November 7, 2026

Payrolls Beat by 100,000 and Gold Still Can't Find a Floor

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gold Nov 3, 2026

Central Banks Bought 321 Tonnes of Gold in Q3. Stackers Bought 19% Less.

The World Gold Council's Q3 report shows central banks surging while bar and coin buyers pulled back. Same quarter, opposite behavior.

silver Nov 2, 2026

10 Lesser-Known Silver Coins in My Stack (Who Really Makes Them?)

Ten one-ounce silver coins you don't hear about much, and none of them comes from where you'd think.

gold Nov 2, 2026

Gold Just Had Its Worst October Since 2008. The ETF Crowd Is Now Underwater.

Gold closed October at $3,875, then bounced 1.8% Monday on Iran headlines. The bigger story is who bought the rally and what they're sitting on now.

gold Oct 31, 2026

Gold Fell to a One-Year Low on a Day Yields Dropped. That's Not How This Works.

Gold dropped 3.5% to about $3,880 on Friday, even as Treasury yields fell. Stocks sold off and the margin calls came for everything, including your safe haven.

silver Oct 30, 2026

Silver Is at $50 and Nobody Wants It. Q2 Coin Sales Were the Lowest Since 2010.

Silver hit its lowest level of 2026 on Friday, and Metals Focus says investors, coin buyers and vaults all point the same way: weak demand, plenty of metal.

gold Oct 29, 2026

The Fed Held Rates 10-2. Both Dissenters Wanted a Hike. Gold Slipped to $4,025.

The Fed held at 3.75%–4.00% with two votes to raise. Then GDP came in at 3.4% and gold slid to about $4,025.

gold Oct 28, 2026

Canada Just Hiked Into an Oil Shock. The Fed Is Next in Line.

The Bank of Canada raised rates to 2.5% and said more may come. Gold sits near $4,055 as traders bet the Fed follows by December.

silver Oct 27, 2026

Silver Hit a New 2026 Low. Another Big Miner Just Said It's Making Less.

Silver touched a year-to-date low of $52.67 as Fresnillo reported 11.6% less output. The supply story keeps getting worse; the price keeps ignoring it.

gold Oct 26, 2026

Gold Is Back Above $4,000. It Lasted About a Weekend.

Gold bounced to about $4,010 Monday after its first close under $4,000 since mid-July. Fed week decides whether the bounce is anything more.

gold Oct 24, 2026

Gold Closed the Week Under $4,000. Wall Street Is Bearish. Main Street Isn't.

Gold lost roughly 4% this week and slipped below $4,000. Kitco's survey shows analysts and retail investors reading it in opposite directions.

gold Oct 23, 2026

Yields Fell, Gold Fell Anyway. Silver Dropped 5.9% in a Day.

Gold lost 2.9% and silver 5.9% on Thursday even as the 10-year yield fell 15 basis points. Oil and a hawkish Fed did the damage.

gold Oct 22, 2026

Russia Sold Another 6.2 Tonnes of Gold. Its Reserves Are Back to 2019 Levels.

The Bank of Russia's gold holdings fell to 2,264 tonnes, the lowest since 2019. The seller isn't bearish on gold. It needs the cash.

gold Oct 21, 2026

The Gold-Silver Ratio Fell to 71. Silver Is Still Less Than Half Its January Price.

Silver outpaced gold for two sessions and the ratio slid from its annual high near 74. Don't mistake a bounce for a recovery.

gold Oct 19, 2026

The Fed Is Probably Going to Pause. Gold Barely Noticed.

October hike odds are down to about 15%, yet gold is still pinned near $4,160. Oil at $107 and a December hike priced at 89% explain why.

gold Oct 18, 2026

Jefferies Still Says $5,000 Gold in 2027. It Just Cut Its 2026 Number to Get There.

Jefferies kept its $5,000 call for 2027 but trimmed 2026 to $4,511, and its long-term number sits below today's spot. Read the fine print.

silver Oct 16, 2026

One of Mexico's Big Silver Mines Produced 41% Less. Silver Fell Anyway.

First Majestic's San Dimas mine produced 41% less silver in Q3, and silver still slid toward $56. Here's what that says about what moves the price.

gold Oct 15, 2026

Wholesale Prices Jumped 6.3%. Gold Went Up Anyway.

September PPI rose 1.3% in a month, more than double forecasts. Last time producer prices ran hot, gold fell. This time it rose to $4,154. Here's why.

gold Oct 14, 2026

Inflation Hit 3.7%. October Hike Odds Went From 21% to 47% Before Lunch. Gold Paid for It.

September CPI rose to 3.7% and core beat forecasts. October Fed hike odds more than doubled, and gold fell more than 1% to about $4,107.

silver Oct 14, 2026

I Finally Tried the Silver Every Stacker Recommends

I've heard stackers say "buy junk silver" for years, so I finally went to my local coin shop and bought a sampling.

gold Oct 13, 2026

Kazakhstan Was a Top-4 Gold Buyer This Year. Now It's Selling.

Kazakhstan's central bank will cut gold from about 78% of reserves to 75% by year-end, citing Treasury yields at a 24-year high. Here's what that means.