Generated from the day's market reporting and GoldPrice.Live's own price data, under Rick Adams' editorial guidelines. Sources are linked. Not investment advice.
Silver finished at $60.21 per ounce, down $0.46 on the day (-0.76%). That leaves it lower by $0.85 for the week (-1.39%) and down 14.54% year to date. The slip came during the New York session after Comex settlement, with silver shading gold’s decline of -0.62% and therefore underperforming a touch as the two moved in tandem.
The main drag was a firmer US dollar. Reuters reported the dollar trading near an 18‑month high on Monday, a backdrop that typically pressures dollar‑priced metals by raising the cost for non‑US buyers. Gold eased alongside that FX move, and silver followed, magnifying the pullback as it usually does when the driver is macro rather than metal‑specific. (kitco.com)
Market conditions in New York were also thin. The US Treasury market was closed for the Columbus Day holiday, reducing the usual rates‑and‑FX cross‑currents that can stabilise intraday moves. In that lighter liquidity, bullion’s dip earlier in the day set the tone for silver into the afternoon. (kitco.com)
Next up, Asia opens with attention already fixed on US inflation later this week. Reuters’ diary flags the US Consumer Price Index on Wednesday 14 October, followed by Producer Prices and retail sales on Thursday 15 October. With those prints likely to reset expectations for the Fed’s late‑October meeting, traders have been reluctant to press trends. Today’s story looks more like positioning around the dollar in a quiet session than a fresh read on silver’s fundamentals; the real test comes when the US rates market is back to full strength on Tuesday and the CPI lands on Wednesday. (wealthinsights.metrobank.com.ph)
The gold‑silver ratio sits at 69.2. That is little changed on the day and fits the pattern: Monday’s move was about the dollar and gold, with silver tagging along rather than reacting to anything in its own industrial supply or demand.
The commentary often refers to the gold-silver ratio: see the live figure and its daily history back to 1970.
The commentary above is updated twice a day: a morning edition written before the New York open, with London's morning and the early US data in hand, and an afternoon edition written in the last hour of New York trading. On Saturdays it wraps up the week.
The price and the day's change come from GoldPrice.Live's own feed; the explanation of what moved it is compiled by the site's Market Desk from that day's reporting by named sources, each of them linked.
Silver needs its own commentary because it doesn't behave like gold, even when it moves with it. Gold is mostly a monetary asset, and its main sources of demand tend to pull in the same direction under the same conditions. Silver is a monetary metal and an industrial one at once: it goes into solar panels, electronics and vehicles as well as coins and bars, so a factory order book can matter as much as a Fed statement. It also trades in a smaller market than gold, which is why it tends to follow gold's direction with bigger swings, and why the gold-silver ratio is worth watching in its own right.
So each edition tries to say whether a move was silver's own, or gold's move amplified, before it explains the drivers and what's on the calendar next. It won't quote a price it can't source, do its own technical analysis, or tell you to buy or sell.
For Rick Adams' own view of the silver market, see the resource articles and the GoldBuzz newsletter.
