By The Rio Times | Created at 2026-10-09 01:26:54 | Updated at 2026-10-09 03:08:02
2 hours ago
Key Facts
- The gold fund GLD rose 0.73% to US$378.62 and the silver fund SLV fell 0.69% to US$53.45 on Thursday 8 October (RT).
- Spot gold rebounded about 1% to roughly US$4,130 to US$4,140 an ounce after Wednesday’s drop, and spot silver traded near US$59.5 to US$60 (market reports).
- Wall Street fell, with the S&P 500 down 0.47% and the Nasdaq 1.25%, while oil jumped about 3.6% to US$91.49 a barrel (WTI settlement).
- The US Treasury 10-year yield eased to about 5.23%, from 5.295% a day earlier, which supports gold because it pays no interest.
- Prediction markets: Polymarket gives 79.5% to gold touching US$4,200 in October and 45.5% to US$4,300 (US$156,000 traded, as of 8:23 pm ET, 8 October). Bets, not forecasts.
Today’s Focus
Gold bounced back on Thursday 8 October. The GLD fund, which holds physical gold, rose 0.73% to US$378.62, recovering part of Wednesday’s 1.67% drop. Spot gold traded near US$4,130 to US$4,140 an ounce.
Silver was mixed. The SLV fund fell 0.69% to US$53.45, while spot silver traded near US$59.5 to US$60, according to market reports.
Treasury yields eased from multi-year highs, and bullion regained ground. For Mexico and Peru, which mine large amounts of silver and gold, a firmer price helps export income.
What matters today. Gold is steadying after a sharp fall, but the Federal Reserve’s path and US yields still decide the next move.
01 The session in one read
GLD closed at US$378.62, up 0.73%, after closing at US$375.88 on Wednesday. SLV closed at US$53.45, down 0.69%, after a 2.94% drop the day before.
Spot gold traded between roughly US$4,118 and US$4,140 during the New York day, according to market reports. That is above Wednesday’s RT bar of US$4,108. RT’s spot series had not updated for Thursday at publication, so we use the two funds as our verified measure.
Wall Street fell. The S&P 500 lost 0.47% to 7,765 and the Nasdaq 1.25%. The US 10-year Treasury yield eased about 4 basis points to near 5.23%.
Assessment — A rebound inside a downtrend LOW
The bounce is small compared with Wednesday’s fall, and the funds disagree: GLD rose while SLV fell. That points to a pause, not a reversal.
We cannot say from one session whether the buyers will stay. The variable to watch is the path of US yields after the Fed’s signals of another rate rise.
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02 The board
GLD holds physical gold and tracks its price closely, but it is not the spot price. SLV does the same for silver.
| Gold fund (GLD) | US$378.62 | +0.73% |
| Silver fund (SLV) | US$53.45 | -0.69% |
| Buenaventura (BVN) | US$31.43 | +0.96% |
| S&P 500 | 7,765 | -0.47% |
Source: RT close, 2026-10-08. Spot gold and silver: market reports.
The RT calendar lists three US releases for 8 October at 12:30 UTC (13:30 Lisbon): Initial Jobless Claims, Continuing Jobless Claims and the Jobless Claims 4-Week Average. We could not verify the results at publication, so we do not quote them. Weekly claims feed the Fed’s view of the labour market, and with it the path of rates that moves gold.
Live Market IntelligenceThe live market boardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.
Rio Times · Live Market Intelligence
Latin America — Cross-Market Board
Regional
Oct 8, 2026 · 21:54
Ibovespa · benchmark
206,220.24 +0.94%
L 167,142day rangeH 168,310
+21.85% over 12 months
Market breadth · 5 names
60% advancing
3 ▲ advancing2 declining ▼
Currencies, rates & key inputs
Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil 206,220.24 +0.94%
S&P/BMV IPCMexico 64,851.89 +0.31%
S&P IPSAChile 11,024.22 +0.22%
S&P MERVALArgentina 2,832,472 +0.30%
MSCI COLCAPColombia 2,525.90 -0.36%
BVL S&P PerúPeru 60,766.81 -1.71%
Full instrument board
| IBOV | 206,220.24 | +0.94% | +21.85% | 204,302.33 | 168,310 | 167,142 | — |
| IPSA | 11,024.22 | +0.22% | — | 10,999.64 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 64,851.89 | +0.31% | +12.17% | 64,653.33 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,832,472 | +0.30% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,525.90 | -0.36% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,766.81 | -1.71% | — | — | — | — | — |
| 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 | — |
Largest moves today
BVL PERÚ 60,766.81 -1.71%
USD/PYG 5,939 +1.68%
USD/DOP 58.34 +1.25%
USD/UYU 40.27 +1.24%
EUR/BRL 5.95 +1.01%
IBOV 206,220.24 +0.94%
USD/CRC 445.92 +0.89%
USD/BOB 11.64 -0.76%
The session read
The Ibovespa rose 0.94%, with breadth positive — 3 of 5 names higher. IPC MEX led, while BVL PERÚ lagged.
03 What moved it
Gold recovered after a heavy midweek sell-off. Reports said bullion gained about 1% as Treasury yields retreated from multi-year highs.
Oil was the other force. WTI settled at US$91.49, up 3.6%, as Hurricane Isaias shut in part of US Gulf output. Higher energy prices feed inflation worries, which can keep the Fed cautious and weigh on gold later.
04 The Latin American read
Mexico is the world’s largest silver producer, according to the Silver Institute, and Peru is a major gold and silver miner. Firmer prices raise mining income and tax receipts in both countries.
Peru’s Buenaventura, which also trades in New York, rose 0.96% to US$31.43, in line with the metal’s rebound.
05 The names to watch
GLD is the most liquid way to follow gold in the United States. SLV shows how much harder silver moves; on Thursday it lagged gold.
Buenaventura gained 0.96% after a fall of 2.54% on Wednesday.
06 The outlook
Gold’s next move depends on the Fed’s path. Another rate rise this year is the market’s central case, and each rise in yields makes gold less attractive.
A weaker dollar or falling yields would help the metal. A further rise in oil prices would raise inflation fears and could keep rates higher.
What Prediction Markets Say
Polymarket’s market on what gold will hit in October priced a touch of US$4,200 at 79.5%, US$4,300 at 45.5% and US$4,400 at 26.0%, with US$156,000 traded (read at 8:23 pm ET on 8 October). It priced a fall to US$4,100 at 81.5% and to US$4,000 at 44.5%. For silver, a touch of US$60 was priced at 85.5% and US$62 at 63.5%.
These prices are bets on price levels, not forecasts. Spot gold had already traded above US$4,100 and below US$4,200 on the day.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
07 What to watch
- Fed path: Traders will look for any signal on the next rate decision after the September minutes.
- US yields: A further fall would support gold; a rise would pressure it.
- Oil and inflation: Gulf storm damage and Middle East tension raise inflation fears.
- Mexico and Peru: Silver and gold prices drive mining income in both countries.
Background: Gold ETF Falls 1.7% as Fed Hike Bets Weigh | Gold & Silver, Oct 7.
Background: Gold Rises 0.4% to US$4,151 as Dollar Slips | Gold & Silver, Oct 6.
Frequently Asked Questions
Why did gold rise on 8 October?
Treasury yields eased from multi-year highs after Wednesday’s sell-off, and spot gold rebounded about 1% to roughly US$4,130 to US$4,140. The GLD fund rose 0.73%.
Why did silver funds fall while gold rose?
The SLV fund fell 0.69% while GLD rose 0.73%. Silver is more volatile and has industrial uses, so it can move against gold on a given day.
Which Latin American countries mine silver?
Mexico is the world’s largest silver producer, according to the Silver Institute, and Peru is also a major miner.
What do prediction markets say about gold?
Polymarket priced a touch of US$4,200 in October at 79.5% as of 8:23 pm ET, 8 October. These are bets on price levels, not forecasts.
Market data: RT; spot prices: market reports; prediction markets: Polymarket (as of 8:23 pm ET, 8 October 2026)
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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