Gold & Silver Thursday October 1, 2026: Metals Rise
Updated 1 time · Latest: 2 October 2026
Key Facts
- Upward session Gold gained 0.63% to US$4,182 an ounce and silver 1.25% to US$61.15 on Thursday, October 1, 2026, even as the dollar firmed.
- Yield backdrop The 10-year US Treasury yield ended the session at 5.24%, down from 5.29% a day earlier, which lowered the opportunity cost of holding non-interest-paying metals.
- Dollar context The dollar index closed at 102.10, up 0.64%, a headwind for dollar-priced bullion that metals shrugged off.
- Next test US nonfarm payrolls on Friday, October 2 are the next catalyst for yields and the dollar, and so for gold and silver.
- LatAm production Mexico remained the world’s largest silver producer in 2025 at about 172.9 million ounces, ahead of Peru’s 130.6 million ounces.
- Peru profile Peru’s silver typically comes from polymetallic mines that also deliver zinc, lead and copper, tying its output to base-metal economics.
Today’s Focus
Gold and silver gained ground on Thursday, October 1, 2026, as the 10-year US Treasury yield eased to 5.24% from 5.29%. The dollar index rose 0.64% to 102.10, yet metals held their advance.
Silver outperformed gold, rising 1.25% against 0.63%. Silver is both a monetary metal and an industrial input, so it tends to move more than gold when risk appetite and yields shift.
For Latin America, the session carries trade and fiscal weight. Mexico, the world’s largest silver producer in 2025 with roughly 172.9 million ounces, and Peru, second at about 130.6 million ounces, both watch silver prices closely.
The silver price settled at US$61.15 an ounce, up 1.25% on the day. Gold closed at US$4,182 an ounce, a gain of 0.63%.
What matters today. Metals rose on Thursday, October 1, 2026, alongside a lower Treasury yield close and despite a stronger dollar, and Friday’s payrolls report is the next test.
01 The session in one read
Gold and silver rose on Thursday, October 1, 2026, alongside a lower 10-year US Treasury yield close of 5.24%. A lower yield reduces the opportunity cost of holding assets that generate no income.
A firmer dollar was a headwind: the dollar index closed at 102.10, up 0.64%, making bullion more expensive for buyers outside the United States. Metals nonetheless finished higher.
Thursday’s gains coincided with a lower 10-year Treasury yield close (5.24% from 5.29%), which eased the opportunity cost of holding gold and silver and helped offset a 0.64% rise in the dollar index. For Latin American producers from Mexico to Peru, the variable to watch is whether US yields stay lower, because that, more than the dollar, is likely to set the near-term direction for both metals.
02 The board
Gold closed at US$4,182 an ounce, up 0.63% on the day. Silver rose further, settling at US$61.15 an ounce for a gain of 1.25%.
Silver’s larger gain reflects its dual role as both a monetary metal and an industrial input, which makes it more sensitive when yields ease and growth expectations improve.
| Asset | Level | Change |
|---|---|---|
| Gold | US$4,182/oz | +0.63% |
| Silver | US$61.15/oz | +1.25% |
Source: RT close, 2026-10-01. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 187,197.46 | +0.46% | +21.85% | 186,340.46 | 168,310 | 167,142 | — |
| IPSA | 10,908.18 | -0.56% | — | 10,969.49 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 63,828.60 | -0.60% | +12.17% | 64,214.36 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,758,840 | -2.15% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,530.05 | -0.75% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 59,831.84 | -0.13% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
03 What moved it
The most visible support was the 10-year US Treasury yield, which closed at 5.24% against 5.29% a day earlier. A lower yield cuts the return investors give up by holding gold and silver, which pay no coupon or dividend.
The dollar index at 102.10 was a second, opposing force for international investors. A stronger greenback makes dollar-denominated bullion costlier in euros, pesos or reais, which can curb demand from non-US buyers.
We could not confirm a single news event behind the move, so the session reads as a rates-driven gain rather than a reaction to one headline.
Thursday’s US data gave metals a mixed message. On Thursday the Institute for Supply Management (ISM) put its US manufacturing index at 54.5 for September, against a forecast of 55 and 54.6 in August. Its prices-paid gauge jumped to 77.9 from 71.1, well above the 72.3 forecast, which points to sticky input costs. New orders rose to 55.3 from 53.7 and employment to 52.7 from 51.2. S&P Global’s final US manufacturing PMI (purchasing managers’ index) was 55.9, below the 57.0 flash estimate and up from 53.9 in August. The US Department of Labor reported 197,000 initial jobless claims for the week to 26 September, against a forecast of 200,000 and 198,000 a week earlier. Continuing jobless claims fell to 1,701,000 from 1,712,000, and the four-week average of initial claims eased to 200,000 from 202,500. Strong activity and a hot prices gauge argue against quick Federal Reserve easing, which is a headwind for gold and silver, which pay no yield. Even so, the 10-year yield closed lower at 5.24%.
04 The Latin American read
Mexico was the world’s largest silver producer in 2025, mining roughly 172.9 million ounces, according to the Silver Institute’s World Silver Survey 2026. That output supports major mining regions and public revenue flows tied to export earnings.
Peru ranks second among the countries named in the survey with about 130.6 million ounces. Its silver typically comes from polymetallic mines that also produce zinc, lead and copper, meaning silver price swings ripple across several metal markets at once.
For both economies, a higher silver price in dollar terms lifts the local-currency value of export receipts. Currency moves also matter: a weaker Mexican peso, as on Thursday, adds to the local-currency value of dollar-priced exports.
05 The names to watch
Investors tracking LatAm silver exposure should watch Mexican and Peruvian miners whose revenue is heavily tied to silver and associated base metals. Fresnillo and Industrias Peñoles dominate Mexican silver output, while Hochschild Mining and Buenaventura anchor the Peruvian side.
The gold side remains relevant for Peru’s Yanacocha and Mexico’s large open-pit gold operations, where dollar-based costs meet local-currency services. Movements in the 10-year US Treasury yield will likely matter more this quarter than any single producer’s output guidance.
06 The outlook
With the 10-year Treasury yield at 5.24% and the dollar index at 102.10, the near-term direction for gold and silver depends on whether yields stay lower. Friday’s US nonfarm payrolls release will be the next major test, as a hot labour market would push yields higher.
If payrolls surprise to the downside, yields could ease and metals might extend their gains; if they surprise to the upside, higher yields could reverse Thursday’s advance.
07 What to watch
- US nonfarm payrolls: A stronger-than-expected jobs report could push the 10-year Treasury yield above 5.24% and weigh on gold and silver.
- Dollar index at 102.10: A further rise would make bullion more expensive for Mexican and Peruvian buyers and could cap the advance.
- Silver at US$61.15: Whether silver can hold its 1.25% gain will show if the rally has momentum beyond one session.
- LatAm miners: Higher dollar silver prices support revenue for Mexican and Peruvian producers, particularly if local currencies stay soft.
Frequently Asked Questions
Why did gold and silver rise on Thursday, October 1, 2026?
The 10-year US Treasury yield closed lower at 5.24% from 5.29%, easing the opportunity cost of holding metals, and metals held their gains despite a 0.64% rise in the dollar index to 102.10. We could not confirm a single trigger.
Did the stronger dollar stop the rally?
No. The dollar index rose 0.64% to 102.10, but the easing in the 10-year Treasury yield mattered more for non-yielding gold and silver on the day.
How much silver did Mexico produce in 2025?
Mexico was the world’s largest silver producer in 2025, mining about 172.9 million ounces.
Where does Peru’s silver come from?
Peru, the second-largest producer at about 130.6 million ounces in 2025, sources most of its silver from polymetallic mines that also yield zinc, lead and copper.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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