Gold Price Today: Gold Rises 0.1% to $4,117 as Oil Jumps and Silver Slips
Brent crude jumped about 5% on a report that the White House is weighing new strikes on Iran. Gold held its ground, but silver fell 1.6%. Here’s what moved metals before the New York open and the levels our desk is watching.
For general information only, not investment advice. Ausecure is a precious-metals dealer and sells the products discussed.
This pre-market note uses prices as of 8:50 AM ET on Oct 8, 2026. For how gold and silver finished yesterday, read our market close note.
The short version
- Gold price today: about $4,117 an ounce at 8:50 AM ET, up $5.68 (0.1%) from Wednesday’s close. The overnight range was $4,103 to $4,143.
- Silver price today: about $58.83, down 1.6% and closing below $59 for the first time this week. The gold/silver ratio rose to 70, its highest reading in two weeks.
- Why: Brent crude jumped about 5% to near $105 after a report that the White House has asked the Pentagon for options to strike Iran. The 2-year Treasury yield and the odds of another Fed hike rose with it. Gold absorbed that pressure, but silver did not.
- Data: weekly jobless claims came in at 197,000, slightly better than the 200,000 forecast.
Live now: Gold · Silver live ask per troy ounce
Is gold up or down today?
Slightly up. Gold closed Wednesday at about $4,111 and rallied to $4,143 by 10:30 PM ET, its highest level since Wednesday morning. It could not hold there. It slipped back below $4,127 after midnight and has traded between $4,110 and $4,134 since. The low of the session, $4,103, came early Wednesday evening, and no 15-minute bar has closed below $4,103.50.
Oil set the tone. Iran has stepped up attacks on tankers around the Strait of Hormuz, and a tanker off northern Qatar was hit by projectiles. Before the New York open, a report in The Atlantic that the White House has asked the Pentagon for strike options against Iran sent Brent crude about 5% higher, to roughly $105 a barrel (Bloomberg). No strike has been announced. Iran and Oman have been working on designated transit routes through the strait since August, but Iran has said that does not mean reopening it.
Over the past two weeks, escalation in the Gulf has tended to push gold lower: higher oil raises inflation worries and the odds of more Fed rate hikes, which lifts yields and the dollar. This morning the 2-year yield rose 4.6 basis points to 4.82%, yet gold finished the night slightly higher. That is a sign of underlying demand for the metal, though one night is not a trend.
Gold spot (XAU/USD), past two weeks
How much was the dollar?
Very little. The U.S. Dollar Index rose 0.10% overnight to 102.38. Based on how gold has moved against the dollar over the past two weeks, that alone would have cut about 0.2 percentage points from gold. Gold rose instead, so the metal itself was about 0.3 points stronger than the dollar implied.
A second check: gold measured against a basket of major currencies (gold × DXY) rose about 0.2% overnight.
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: why silver fell while gold held
Silver dropped 1.6% to about $58.83. It touched $60.60 Wednesday evening, then sold off through the night to a low of $58.50 at 6:30 AM ET. It has closed below $59 for most of the morning, so that level has given way. Silver usually moves more than gold in both directions because a larger share of its demand comes from industry and it trades in a smaller market. Rate-hike worries tend to weigh on it more.
The gold/silver ratio (how many ounces of silver one ounce of gold buys) rose from 68.8 to 70.0, the top of its two-week range. A rising ratio means silver is lagging gold. For buyers who track the ratio, a higher number means a dollar buys more silver relative to gold than it did at Wednesday’s close.
Gold/silver ratio, past two weeks
Gold and silver price levels we’re watching
| Level | Gold | Silver | Why it matters |
|---|---|---|---|
| Overnight high | $4,143 | $60.60 | Where the overnight rally stalled |
| Pivot | $4,127 | $59.00 | Gold broke above, then slipped back; silver lost it on closes |
| Overnight low | $4,103 | $58.50 | Gold’s floor all session; silver’s low this morning |
| Wednesday’s low | $4,066 | $58.99 | Gold’s two-week low; silver’s has already given way |
Over the past two weeks a typical day for gold covered about $66 from high to low, and 80% of days stayed inside $82. The overnight range so far is about $40, so volatility is back to normal after Wednesday’s wide swing.
What the Fed is expected to do
According to the CME FedWatch tool, futures markets price a 78% chance that the Fed holds rates at 3.75%–4.00% at its October 27–28 meeting and a 22% chance of a hike, with no chance of a cut. That is a little more hawkish than Wednesday afternoon, when hike odds were 19%. The 10-year Treasury yield is 5.32% and the 10-year TIPS yield, a common measure of real interest rates, is 2.91%. Higher real rates raise the cost of holding a metal that pays no interest, which is why rates remain the main headwind for gold.
Weekly initial jobless claims fell to 197,000, against a 200,000 forecast. The labor market is still tight, which supports the case for higher rates, but the surprise was small and the dollar barely moved.
Economic calendar: what’s next for gold
What today’s move means if you buy physical gold or silver
Quiet nights for gold and soft mornings for silver matter 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:
- Your price is confirmed when you order. Our prices follow the live market, so the price you lock in is today’s price.
- Compare the premium over spot. Most products on our site show their “% over spot” under the price, so you can compare a coin with a bar on equal terms.
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- Selling? We make two-way markets. Call the desk at 1-855-528-4653 for a live bid, or see how selling works.
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Silver spot (XAG/USD), past two weeks
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Frequently asked questions
What is the gold price today?
Gold spot traded near $4,117 an ounce at 8:50 AM ET on Oct 8, 2026, up about 0.1% from Wednesday’s close, with an overnight range of $4,103 to $4,143. For the current bid and ask, see our live metal prices page.
Why is gold steady today when oil is up?
Higher oil usually weighs on gold in the current market because it raises the odds of more Fed rate hikes. On Oct 8, 2026, Brent rose about 5% and the 2-year Treasury yield rose 4.6 basis points, but gold still edged higher, about 0.3 points better than the dollar’s move alone implied.
Why is silver down today?
Silver fell about 1.6% to $58.83 by 8:50 AM ET on Oct 8, 2026, dropping below $59. Silver is a smaller market with heavy industrial demand, so it usually moves more than gold, and rate-hike worries tend to weigh on it more. The gold/silver ratio rose to 70.
When is the next Fed meeting?
The Fed’s next policy meeting is October 27–28, 2026. Futures markets price about a 78% chance of no change and a 22% chance of a quarter-point hike.
Is a down day a good time to buy silver?
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 8:50 AM ET on Oct 8, 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: CME FedWatch; FXStreet, Oct 8, 2026; OilPrice.com, Oct 8, 2026; Bloomberg, Oct 8, 2026; FRED 10-year TIPS yield; Forex Factory economic calendar; Kitco; OANDA, TVC and COMEX data via TradingView.
