Precious metals markets have seen significant volatility in the last few trading days, with gold and silver suffering one of their largest daily sell-offs last Friday before rebounding strongly following the US midterm elections.
Nov 5, 2026
Precious metals markets have seen significant volatility in the last few trading days, with gold and silver suffering one of their largest daily sell-offs last Friday before rebounding strongly following the US midterm elections.
Gold fell 3.5% on Friday to around US$3,881 per troy ounce (oz), briefly hitting its lowest level in a year and breaking below the psychologically important US$4,000oz mark. Silver was hit even harder, falling 6.5% toward US$49oz, its first move below the psychologically significant US$50oz price point in this now 9-month corrective cycle.
The sell off in metals occurred against a backdrop of a broader technology-led equity market sell-off, continued inflation concerns and expectations that US interest rates will stay higher for longer.
We expect more volatility to come..
