1. Unbelievably, the U.S. economy is nearing an impressive achievement on the unemployment front. The unemployment rate is nearing a record number of consecutive months below 5%; Truist chief strategist Keith Lerner pointed out. The longtime record dates back to the mid-1960s. “Recent data also reinforced what we have been seeing in terms of this very low hire, but also very low fire condition, including the idea that while there is selective weakening in some areas, the labor market as a whole remains decent,” said Rick Rieder, BlackRock’s chief investment officer of global fixed income.
2. The ongoing energy crisis, persistent inflation and surging bond yields continue to create significant near-term headwinds for gold and silver, but those challenges have done little to shake the precious metals industry’s long-term bullish conviction. If anything, sentiment at the 2026 London Bullion Market Global Precious Metals Conference suggested that the fundamental case for gold is broadening as central banks diversify their reserves, geopolitical fragmentation reshapes the global monetary system and rising sovereign debt raises questions about the traditional safe-haven role of government bonds. According to the conference’s price survey, delegates see gold prices trading around $5,013.30 an ounce by this time next year, representing a roughly 20% gain from current levels. Delegates were even more bullish on silver, forecasting prices to rise to $94.70 an ounce during the next 12 months. The forecast represents a gain of more than 54% from current levels.
3. Oil prices edged lower on Monday after crude exports from the Middle East increased and the Group of Seven nations pledged to boost supplies, though selling was limited by ongoing disruption fears linked to the U.S. war with Iran. Brent crude futures were down $1.20, or 1.17%, at $101.05 a barrel, while U.S. West Texas Intermediate crude was down $1.16, or 1.27%, at $89.95. Middle Eastern crude exports rose above pre-war levels in four of the seven days of the final week of September, shipping data showed on Monday, despite possible attacks on vessels passing through the Strait of Hormuz.
4. The U.S. economy is stacking up wins, even if it doesn’t feel that way for many households because of the resurgence in inflation. The economy has now posted 78 consecutive months of expansion, the sixth-longest business cycle since 1854, according to new analysis from The Kobeissi Letter. This is well above the long-term average of 49 months and the median of 38 months. Meanwhile, the economy is nearing an impressive achievement on the unemployment front. The unemployment rate is nearing a record number for consecutive months below 5%. The longtime record dates back to the mid-1960s.
5. The number of Americans filing new claims for unemployment benefits fell last week, pointing to continued labor market stability despite job growth slowing sharply in September. Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 197,000 for the week ended October 3, the Labor Department said on Thursday. Economists polled had forecasted 200,000 claims for the latest week.
6. Oil prices fell on Friday as Middle East supply concerns ease. Brent crude futures dropped $1.70, or 1.63%, to $102.58 a barrel with U.S. West Texas Intermediate (WTI) crude futures falling $1.08, or 1.18%, to $90.41.
7. The EUR/USD pair attracts buyers for the second straight day, rising to the 1.1225-1.1230 area during the Asian session on Friday amid a weak U.S. Dollar. Spot prices, however, remain confined within a range held since the beginning of this month, warranting some caution for bulls.
8. The U.S. Dollar ticks up against the Japanese Yen on Friday but remains trapped in a tight range, with downside attempts contained above the 157.50 area and the 200-day SMA at 158.54, which holds bulls for now. Soft Japanese household spending data has failed to support the Yen, but the dollar is showing some weakness against most of its peers as Treasury yields pulled back from multi-decade highs.
Dividend-paying stocks are taking a beating as surging Treasury yields make bonds a more competitive income source, creating a difficult environment for baby boomers who lean on dividend funds and individual stocks to cover living expenses in retirement. Utilities, real estate, and materials have all experienced share-price declines as climbing bond yields have drawn income-seeking investors away from dividend stocks. The 10-year Treasury yield has remained north of 5%, recently hovering between 5.2% and 5.3%, while the 20-year has hit 5.68% and the 30-year has reached 5.62% marks last seen more than two decades ago. Despite the pressure, financial advisors caution retirees against making reactive moves. “The worst thing that a retiree could do is sell a high-quality dividend payer at depressed prices to chase income somewhere else in the stock market just to get higher yield,” Timothy Chubb, chief investment officer at Girard, a Univest Wealth Division stated. Chubb said he would rather own a company growing 4% to 5% annually with a 3% dividend yield than pursue an 8% yield from a deteriorating business.
Limited supply has been one factor stymying the housing market. But some relief may be on the way as the population ages. Baby boomers and the Silent Generation are expected to unload some 13.9 million homes in the next decade; 34% more than older households did in the past 10 years. Homeownership rates typically remain steady until owners reach their mid-70s, then begin to decline as older owners move in with family, enter care homes, or transition to rentals. It’s expected to help the U.S.’s housing shortage, although it won’t fix it entirely. Most older homeowners have midsize or larger homes, meaning the new inventory that’s expected to come to market won’t be much help to first-time buyers targeting smaller starter homes, which are in particularly short supply.
U.S. consumer borrowing rose in August by less than forecast, restrained by the biggest decline in revolving credit in nearly two years. Total credit outstanding rose $8.3 billion, the least in three months after a revised $17.7 billion increase in July. The median estimate among economists surveyed called for a $15 billion advance. The report doesn’t include mortgages. Credit-card and other revolving debt outstanding declined $4.8 billion, the most since November 2024. Non-revolving credit, such as loans for vehicle purchases and school tuition, increased $13.1 billion in August. Auto sales in August advanced to the fastest pace since April of last year, according to industry data. Americans have continued to spend at a robust pace, fueling economic growth despite elevated prices.
Volatility should be expected to remain high as investors will be closely watching for hints on the upcoming monetary policy direction. Many investors have redoubled their efforts to ensure that their portfolios are sufficiently diversified in the hope that they will be able to withstand corrections in multiple market sectors. Many of these investors have included physical precious metals as part of their diversification plans, given their long history as a hedge against both inflation and during times of economic turmoil. Remember, the key to profitability through the ownership of physical precious metals is to own the physical product and hold it for the long term. Always remember that you should never overextend your ability to maintain ownership of your precious metals over the long run.
Trading Department – Precious Metals International Ltd.
Friday to Friday Close (New York Closing Prices)
| Oct. 2, 2026 | Oct. 9, 2026 | Net Change | ||
| Gold | $4,137.35 | $4,195.35 | 58.00 | 1.40% |
| Silver | $60.22 | $60.81 | 0.59 | 0.98% |
| Platinum | $1,688.39 | $1,690.19 | 1.80 | 0.11% |
| Palladium | $1,166.36 | $1,148.88 | -17.48 | -1.50% |
| Dow | 51177.44 | 51655.18 | 477.74 | 0.93% |
Previous Year Comparison
| Oct. 10, 2025 | Oct. 9, 2026 | Net Change | ||
| Gold | $3,990.09 | $4,195.35 | 205.26 | 5.14% |
| Silver | $50.20 | $60.81 | 10.61 | 21.14% |
| Platinum | $1,607.41 | $1,690.19 | 82.78 | 5.15% |
| Palladium | $1,430.68 | $1,148.88 | -281.80 | -19.70% |
| Dow | 45479.60 | 51655.18 | 6175.58 | 13.58% |
Here are your Short-Term Support and Resistance Levels for the upcoming week.
| Gold | Silver | |
| Support | 4178/4075/4008 | 58.65/56.89/54.98 |
| Resistance | 4245/4347/4414 | 63.21/66.00/67.76 |
| Platinum | Palladiumn | |
| Support | 1660/1618/1558 | 1130/1090/1019 |
| Resistance | 1761/1821/1863 | 1242/1312/1353 |