Gold 24K € 116,17 / g Silver 999 € 1,58 / g
Marktupdate

Silver plunges nearly 6 percent,
gold below 4,100 dollars

US inflation rose to 3.7 percent in September, more than expected. Gold and silver paid the price. What is behind it, and what it means if you want to sell silver cutlery, coins or old gold.

7 min read Updated on 14 October 2026 De Munter editorial
DE MUNTER · NEWS Market update

An inflation report from the United States hit the precious metals market hard on Wednesday. Around 6 pm Belgian time, Kitco quoted silver at 55.56 dollars per troy ounce, down 3.48 dollars or 5.90 percent from Tuesday. The day’s range ran from 59.76 to 55.54 dollars. At the same moment TradingEconomics showed 55.57 dollars, a loss of 6.09 percent.

Gold fell less sharply, but it did drop below a round number. Kitco had the yellow metal at 4,079.60 dollars around the same time, down 1.94 percent. TradingEconomics quotes 4,079 dollars and minus 1.98 percent, the lowest level since early August.

minus 5.9%silver's loss on Wednesday 14 October 2026, from nearly 60 to 55.56 dollars per troy ounce (Kitco, 6 pm Belgian time)

Inflation higher than expected

At 2.30 pm Belgian time the US inflation figure for September came out. Prices rose 3.7 percent over the year, up from 3.4 percent in August. Economists had expected 3.6 percent. Month on month, prices rose 0.6 percent, Kitco and TradingEconomics report.

Energy gave the biggest push. Gasoline became 9.1 percent more expensive in September, according to Kitco. Core inflation, which leaves out food and energy, also came in higher: 2.6 percent year on year, against an expected 2.5 percent. That matters, because it shows the price rise is not only about expensive fuel.

Why the gold price and the silver price are falling today

The market immediately worked out what this means for interest rates. According to TradingEconomics, the chance that the Fed leaves rates unchanged at the end of October dropped from more than 78 percent to about 50 percent. FXStreet saw the chance of an October hike rise from 22 to more than 41 percent. A hike in December is seen as almost certain.

Higher rates are bad news for gold and silver. They earn nothing themselves, while savings and bonds pay more when rates go up. The US ten year yield was already around 5.2 percent on Wednesday, Kitco reports.

Silver took the heaviest blow. FXStreet points out that a large share of silver demand comes from industry. More expensive borrowing can slow factory output, and with it the demand for silver. Silver is now at its lowest point since the summer. Two days after its recovery above 60 dollars, which we covered in our piece on silver rebounding 3 percent, that gain has more than disappeared.

What this means if you want to sell silver

Anyone with silver cutlery, an old tray or a box of silver coins has seen the silver price swing sharply this week. Over one week silver lost about 7 percent, from around 59.7 dollars on 7 October to 55.6 dollars today.

Nothing changes about your items themselves. A spoon of 800 parts per thousand or a coin of 835 parts per thousand contains a fixed amount of pure silver. The price only decides what that amount is worth on a given day. How we tell solid silver from silver plate and weigh it correctly is explained on our page on how to sell silver.

Key takeaway

A hotter than expected US inflation figure revived fears of a rate hike on Wednesday. Silver lost nearly 6 percent, gold nearly 2 percent. The precious metal in your items stays the same. Have weight and fineness determined correctly and always ask for the price of the day itself.

Selling gold with the price below 4,100 dollars

For anyone looking to sell gold rings, chains or coins, the drop is smaller but clear. Gold fell for a third session in a row and, according to TradingEconomics, is nearly 5 percent lower than a month ago. The January peak, when gold stood above 5,500 dollars, is far behind us.

The ratio between the two metals shifted as well. Kitco recorded a gold silver ratio of 73.4 on Wednesday: it takes more than 73 ounces of silver to buy one ounce of gold. Silver clearly fared worse than gold this week.

The current level in euros is on our gold price today page. How we determine the fineness of old jewellery and broken chains is explained on our page on how to sell old gold.

What matters in the coming days

On Thursday more US figures follow on producer prices and retail sales. At the end of October the Fed meets on interest rates. Any hint of a new hike can move gold and silver again, as can any twist in the oil price.

Terms explained

Frequently asked questions

CPI stands for Consumer Price Index. Every month the US Bureau of Labor Statistics measures how much more expensive a fixed basket of groceries, fuel, rent and services has become. If the figure rises more than expected, the market knows that living costs are climbing faster than hoped. Because the United States is the world's largest economy and gold is traded in dollars, investors everywhere watch this number.

Over the long run, gold often holds its value well against rising prices. In the short run something else matters: interest rates. High inflation pushes the US central bank, the Fed, to keep rates high or raise them. Money in a savings account or in bonds then earns more. Gold itself pays no interest. When rates become more attractive, some investors sell their gold. That is why a hot inflation print can push gold lower on the day itself.

Silver is a smaller market, so a wave of sellers pushes the price down faster. On top of that, more than half of all silver goes into industry, such as solar panels and electronics. Higher rates make borrowing more expensive for factories, which can weigh on demand for silver. So silver takes two hits at once: one from interest rates and one from fears of a slower economy.

The ratio tells you how many ounces of silver you need to buy one ounce of gold. On Wednesday it stood at around 73 according to Kitco. When the ratio rises, silver is doing worse than gold, as it did this week. Traders follow it as a yardstick, but it says nothing about where prices will go tomorrow.

We do not give that advice. Nobody knows what the price will do tomorrow. What is certain is the amount of pure silver in your items, determined by weight and fineness, for example 800 or 925 parts per thousand. What matters is that this is measured correctly and that you get the price of the day, at the moment you decide to sell.

Sources
  1. Kitco: Gold, silver drop as hotter CPI revives Fed rate pressure, Kitco AM Report (14 October 2026)
  2. TradingEconomics: United States inflation, September 2026 (14 October 2026)
  3. TradingEconomics: silver price, historical data and commentary (14 October 2026)
  4. FXStreet: Silver just hit a fresh 3 month low after the CPI (14 October 2026)

This text is informative and does not constitute tax or financial advice. For your personal situation, please consult your accountant. Rates are indicative and may change daily.

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