Gold Price Today: Gold Falls 0.7% to $4,169 as Oil Climbs Back Above $106
Gold pushed above $4,200 on Sunday night and reached $4,217, then gave it all back as Brent crude rose and the dollar firmed. Here’s what moved metals before the New York open, the levels our desk is watching, and why Wednesday’s inflation report matters.
For general information only, not investment advice. Ausecure is a precious-metals dealer and sells the products discussed.
This pre-market note uses Ausecure prices as of 9:02 AM ET on Oct 12, 2026. For how gold and silver finished last week, read our market close note from Friday.
The short version
- Gold price today: $4,168.60 an ounce on our ask at 9:02 AM ET, down $29.90 (0.7%) from Friday’s closing ask of $4,198.50. Spot traded between $4,154.73 and $4,217.40 since Sunday’s reopen.
- Silver price today: $60.55 on our ask, down $0.40 (0.7%). Spot topped at $61.46 on Sunday night. The gold/silver ratio is 68.8.
- Why: Gold broke above $4,200 in thin Sunday-evening trading, then fell back as Brent crude rose about 3.8% from its Sunday low to near $107 and the dollar firmed. It is now below Friday’s low of $4,168.60.
- What’s next: the U.S. bond market is closed today for Columbus Day, so trading in rates is thin. U.S. CPI on Wednesday at 8:30 AM ET is the main event of the week.
Why is gold down today?
Gold ended Friday at $4,198.50 on our ask, just under $4,200. When trading reopened on Sunday evening it kept rising. Between 8:00 and 10:00 PM ET it made six 15-minute closes above $4,208, the top of last week’s range, and touched $4,217.40 at 9:00 PM ET. FXStreet tied the early strength to inflows into gold-backed funds at a four-year high, based on Bloomberg data, and to central-bank buying: the People’s Bank of China reported its 23rd straight month of purchases.
The move did not last. Gold slipped through the Asian session and fell below $4,180 by 4:00 AM ET. It closed below Friday’s low of $4,168.60 for the first time at 7:45 AM ET, and its low so far is $4,154.73 at 8:30 AM ET, on more than twice normal volume.
Oil set the tone again. Brent crude bottomed at $102.33 at 9:00 PM ET on Sunday, the same hour gold peaked, and rose to $106.99 by 8:30 AM ET. We could not find a single headline that explained the overnight oil move. The backdrop is Iran’s stepped-up attacks on tankers around the Strait of Hormuz, which the Washington Post reported last week. Over the past two weeks, higher oil has tended to push gold lower: it raises inflation worries and the odds of another Fed rate hike. That pattern held again this morning.
Gold spot (XAU/USD), past two weeks
How much was the dollar?
About half of it. From the 9:00 PM ET bar on Sunday, when gold peaked, the U.S. Dollar Index rose 0.31% to 102.43. Based on how gold has traded against the dollar since then, that explains about 0.5 percentage points of gold’s 1.0% decline from that bar. The other 0.5 points lined up with the rise in oil.
A second check: gold measured against a basket of major currencies (gold × DXY) is down about 0.6% since Friday’s close, so the dip is not only a stronger dollar.
Gold vs. the U.S. dollar, rebased to 100
Bid and ask for gold, silver, platinum and palladium, updated as the market moves. Every order is priced off the live market and confirmed when you place it.
Silver price today: down with gold
Silver is at $60.55 on our ask, down 0.7% from Friday’s $60.95. Spot rose to $61.46 at 9:15 PM ET on Sunday, close to the Oct 7 high of $61.50, then fell to $60.44 at 8:30 AM ET. It has closed below $60.73, a level it held on most of Friday’s bars, 18 times since Sunday night.
The gold/silver ratio (how many ounces of silver one ounce of gold buys) is 68.8, slightly below Friday’s 69.0. Silver fell a little harder than gold from Sunday night’s highs, but over the full weekend gap the two have moved together.
Gold/silver ratio, past two weeks
Gold and silver price levels we’re watching
| Level | Gold | Silver | Why it matters |
|---|---|---|---|
| Sunday-night high | $4,217 | $61.46 | Where the weekend push stopped |
| Top of last week’s range | $4,208 | $61.19 | Gold closed above it only in thin Sunday-evening trading; Friday’s silver high |
| Broken support | $4,168.60 | $60.73 | Friday’s gold low and silver’s Friday floor, both lost this morning |
| Today’s low | $4,154.73 | $60.44 | Set at 8:30 AM ET |
| Breakout zone | $4,143–$4,150 | $60.27 | Where gold broke out last Thursday; not reached yet |
Over the past 17 sessions a typical day for gold covered about $66 from high to low, and 80% of days stayed inside $80. Since Sunday’s 6:00 PM ET reopen gold has covered about $63, so most of a normal day’s range is already used.
What the Fed is expected to do
According to CME FedWatch, futures markets price an 80.6% chance that the Fed holds rates at 3.75%–4.00% at its October 27–28 meeting and a 19.4% chance of a hike, with no chance of a cut (as of 8:37 AM ET). Hike odds are up from 17.7% at Friday’s close but below the 22.1% priced a week ago. The U.S. bond market is closed today, so Treasury yields are unchanged from Friday: 5.242% for the 10-year and 4.791% for the 2-year. The 10-year TIPS yield, a common measure of real interest rates, was 2.87% on Friday. Higher real rates raise the cost of holding a metal that pays no interest, which keeps rates the main headwind for gold.
That is why Wednesday’s inflation report matters. Forecasts compiled by Forex Factory call for consumer prices to rise 0.6% in September and 3.6% from a year earlier, up from 3.4%. A hotter number would add to the case for another hike.
Economic calendar: what’s next for gold this week
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| Day | Gold | Change | Silver | Silver change |
|---|---|---|---|---|
| MonOct 12 | $4,175.80 | −0.5% | $60.44 | −0.8% |
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What today’s move means if you buy physical gold or silver
A failed push above $4,200 matters most to short-term traders. Many of our customers buy on a schedule or add on down days, and they compare premiums as well as spot. A few practical points:
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Silver spot (XAG/USD), past two weeks
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Frequently asked questions
What is the gold price today?
Ausecure’s gold ask was $4,168.60 an ounce at 9:02 AM ET on Oct 12, 2026, down $29.90 (0.7%) from Friday’s closing ask of $4,198.50. Spot traded between $4,154.73 and $4,217.40 after Sunday’s reopen. For the current bid and ask, see our live metal prices page.
Why is gold down today?
Brent crude rose about 3.8% from its Sunday-night low to near $107 by 8:30 AM ET on Oct 12, and the dollar index rose about 0.3%. By our estimate the dollar explains about half of gold’s 1% drop from its Sunday high; the rest lined up with oil, which raises inflation worries and the odds of another Fed hike.
Why didn’t gold stay above $4,200?
Gold broke above $4,208 between 8:00 and 10:00 PM ET on Sunday, when trading is thin, and reached $4,217.40. It turned lower as oil and the dollar rose overnight and closed below Friday’s low of $4,168.60 at 7:45 AM ET.
When is the CPI report this week?
The September consumer price index is due Wednesday, Oct 14, 2026 at 8:30 AM ET (7:30 AM CT). Forecasts compiled by Forex Factory call for a 0.6% monthly rise and 3.6% from a year earlier.
Is a dip after a failed rally a good time to buy gold?
We don’t give investment advice, and no one can reliably call short-term lows. Some buyers add on down days; others buy a fixed amount on a schedule so they don’t have to time the market, which our Auto-Buy program does automatically. Whatever you choose, compare the premium over spot and buy from a dealer that confirms your price when you order.
This note is general market commentary from the Ausecure trading desk, based on data available at 9:02 AM ET on Oct 12, 2026. It is for informational purposes only and is not investment, tax or financial advice, or a recommendation to buy or sell any product. Ausecure is a dealer in physical precious metals and earns revenue from the products discussed. Precious-metal prices can go down as well as up, and past performance does not guarantee future results. Consider your own circumstances, and speak with a qualified adviser if you need one, before you buy.
Sources: Ausecure live prices (ask; Friday closing ask); CME FedWatch; FXStreet (citing Bloomberg data and the People’s Bank of China); The Washington Post; FRED 10-year TIPS yield; Forex Factory economic calendar; OANDA, TVC (incl. Brent) and COMEX data via TradingView.
How this note is made: drafted with automated tools from Ausecure’s own prices and the market data listed above, then checked and approved by Ausecure before it was published.
