Kitco close: silver slumps 1.8% to $59 as front-end yields cap gold into CPI
Silver fell 1.8% on Tuesday on chip-sector weakness and industrial-demand worries while gold slipped to $4,161, as short-dated yields held up despite a softer dollar. Kitco’s levels.
A softer dollar is normally good news for gold and silver. On Tuesday it wasn’t enough. At 4:50 pm New York time on Tuesday, spot gold was near $4,160.80, down 0.24%, and silver near $59.09, down 1.82%, according to Kitco’s PM report.
Why a weaker dollar didn’t help
The answer is in the shape of the bond market. Kitco reports mixed moves in Treasury yields: the 10-year slipped toward 5.22% and the 30-year below 5.58%, but the 2-year yield stayed above 4.81%. The 2-year is the part of the curve most tied to what the Fed does next, and it was holding up because markets still expect another hike — FedWatch odds of about 19% for October and 88% for December, Kitco says.
For gold, the short end matters because it sets the return on cash. As long as the 2-year stays firm, the cost of holding a metal that pays nothing stays high, whatever the dollar is doing.
Oil and Hormuz: a two-sided risk
Oil was mixed: Brent settled at $105.69 (−0.9%) and WTI at $94.14 (+0.4%), Kitco reports. Tensions around the Strait of Hormuz cut both ways for gold — a reason for safe-haven buying, but also a source of energy inflation that keeps the Fed hiking. We trace that chain in Monday’s Kitco close.
Why silver fell harder
Silver dropped more than seven times as much as gold. Kitco points to three reasons:
- Weakness in chip stocks, which hits a metal used heavily in electronics.
- Concerns about industrial demand more broadly.
- A rising gold-to-silver ratio, as investors favoured gold over its more volatile cousin.
That is the industrial half of silver’s personality showing through. On days when growth worries dominate, silver tends to underperform gold. You can follow the gold-to-silver ratio live.
Kitco’s map for the post-CPI session
| Metal | Resistance | Support |
|---|---|---|
| Gold | $4,217.15–$4,227.00, then $4,273.36 and $4,316.09 | $4,155.31, then $4,144.57, $4,110.33 and $4,066.86 |
| Silver | $59.77–$60.61, then $61.09 and $61.72 | $58.74, then $57.64 and $52.00 |
As reported by Kitco News, 13 October 2026. These are Kitco’s levels, not forecasts. The $52.00 figure is as Kitco states it, though the gap below $57.64 suggests it may be an error in the source.
Gold ended Tuesday just above its first support. FXStreet’s Fibonacci-based map, which puts the floor near $4,115, is in Gold stuck near $4,150.
Every figure here is as reported by the publications listed under Sources, at the time they reported it. Prices move; the live gold price has the current one. Nothing on this page is investment advice.
Sources 1
- Metals weaken as front-end yields, Hormuz risk offset softer dollar — Kitco PM Report Kitco News · 13 Oct 2026