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

Silver rebounds 3 percent,
back above 60 dollars

Two days after falling below 60 dollars, silver is bouncing back strongly. A weaker dollar, cheaper oil and gloomy American consumer sentiment gave it a push. What that means for anyone looking to sell silver cutlery, old coins or gold jewellery.

7 min read Updated on 9 October 2026 De Munter editorial
DE MUNTER · NEWS Market update

Two days after falling below 60 dollars, silver is making a strong comeback. On Friday 9 October, at around 6 pm Belgian time, Kitco quoted 60.83 dollars per troy ounce, 1.76 dollars or 2.98 percent higher than on Thursday. During the session the price reached 61.30 dollars, almost 4 percent above the previous day’s close. At the same time TradingEconomics showed 60.96 dollars and a gain of 3.01 percent.

Gold joined in, but more calmly. Kitco had the yellow metal at 4,191.10 dollars at the same time, up 1.39 percent. TradingEconomics cites 4,191 dollars, the highest level in a week. On Friday morning gold briefly touched 4,208 dollars, before slipping back below the 4,200 mark.

61.30 dollarshighest silver price on Friday 9 October 2026, almost 4 percent above Thursday's close (Kitco)

Why the silver price is rising today

The main trigger came from the Middle East. President Trump said the United States will not attack Iran before the midterm elections of 3 November, and that talks are productive. As a result the oil price fell, Reuters reports via Kitco. Cheaper oil eases fears about inflation, which makes new interest rate hikes in the United States a little less urgent.

The dollar helped too. The American currency weakened on Friday, which makes gold and silver cheaper for buyers in Europe and Asia. That attracts demand. According to the FedWatch tool of exchange group CME, the market puts the chance of a rate hike this month at less than 20 percent. The chance of at least one hike by December remains above 80 percent, however.

For silver, something else is at play. The metal had lost a lot of ground in recent days and on Thursday stood at its lowest level in two months, according to TradingEconomics. After such a fall a sharp rebound often follows, and because the silver market is small, that rebound is bigger than for gold.

Gloomy American consumer sentiment

At 4 pm Belgian time the first consumer sentiment figure for October came out. The University of Michigan measures it every month. The figure fell to 46.3, compared with 48.1 in September. Economists had expected 47.6. It is the lowest level since the record low of May, when the figure stood at 44.8, TradingEconomics reports. Kitco saw gold stay close to its high of the day after the release.

At the same time inflation expectations rose. Americans expect 4.7 percent inflation over the next year, compared with 4.6 percent a month earlier. In the long term they expect 3.5 percent. That combination is awkward for the Fed. A gloomy consumer points to a cooling economy, but higher inflation expectations keep the pressure on rates. Alberto Musalem of the St. Louis Fed said on Friday that further tightening may be needed to bring inflation back to 2 percent, TradingEconomics reports.

What this means if you want to sell silver

Anyone with silver cutlery, an old dish or a box of silver coins sees the price swing sharply up and down within a few days. On Wednesday silver was still diving below 60 dollars, as we wrote at the time in our piece on silver below 60 dollars and gold below 4,100. On Friday it is back above that level. Swings like these are typical of silver.

For your own pieces nothing changes. 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 determines 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 about how to sell silver.

The takeaway

Silver recovered almost 3 percent on Friday after Wednesday's fall, helped by cheaper oil, a weaker dollar and gloomy American consumer sentiment. The price swings a lot, but the silver in your pieces stays the same. Have the weight and fineness determined correctly and ask for the price of the day itself.

Gold stays just below 4,200 dollars

For anyone looking to sell gold rings, chains or coins, the picture is calmer. Gold gains more than 1 percent on Friday, but stays just below the round 4,200 dollar mark. Over the month the yellow metal is still down almost 3 percent according to TradingEconomics, over the year it is up more than 4 percent. The January peak, when gold stood above 5,500 dollars, remains far away.

The current price in euros is on our gold price today page. If you have old or broken jewellery, our page about how to sell jewellery explains how we determine fineness and weight and what to look out for.

What counts in the coming weeks

Whether silver’s recovery holds depends mainly on the oil price and on the Fed. The final consumer sentiment figure follows on 23 October. At the end of October the Fed meets again on rates. The market expects no change then, but still considers a hike in December likely. Any new twist around Iran can quickly turn the oil price, and with it gold and silver.

Terms explained

Frequently asked questions

The silver market is much smaller than the gold market. Less money flows through it, so the same wave of buyers or sellers pushes the price up or down faster. On top of that, more than half of all silver is used in industry, for example in solar panels and electronics. Silver therefore reacts not only to fear and interest rates, like gold, but also to how the economy and factories are doing. That is why its swings are usually bigger, both up and down.

Expensive oil makes almost everything more expensive, from transport to heating. That pushes inflation up. To slow inflation, the American central bank raises interest rates. Higher rates are bad news for gold and silver, because they pay no interest themselves and money in a savings account becomes more attractive. When oil falls, as it did on Friday, the fear of further rate hikes eases a little. That gives gold and silver some room.

Every month the University of Michigan asks a group of Americans how they see their own finances, the economy and the inflation they expect. That produces a single number. The lower it is, the gloomier consumers are. A weak number can signal a cooling economy. That makes new rate hikes less likely, which often helps gold and silver. If inflation expectations rise at the same time, however, the central bank stays on guard.

It is the lowest price in about two months. Silver reached that level on Thursday 8 October. It says nothing about the future, but it is a reference point that traders watch. When the price bounces strongly from such a low, as it did on Friday, people speak of a recovery. Nobody knows in advance whether that recovery will last.

We do not give that advice. The price moves every day and nobody knows what it will do tomorrow. What is fixed is the amount of pure silver in your pieces, 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 itself, at the moment you decide to sell.

Sources
  1. Kitco (Reuters): Gold adds over 1% on easing oil prices, softer dollar (9 October 2026)
  2. Kitco: Gold price trades near high after preliminary Consumer Sentiment falls to 46.3 (9 October 2026)
  3. TradingEconomics: silver price, historical data and commentary (9 October 2026)
  4. TradingEconomics: United States consumer sentiment, University of Michigan (9 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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