Silver Plunges 6% as Gold Drops Below US$4,100 | Gold & Silver, Oct 14
Key Facts
- Gold fell below US$4,100 and silver plunged about 6% on Wednesday 14 October, Kitco reported, after US inflation topped forecasts.
- The GLD gold fund lost 1.49% to US$375.99 and the SLV silver fund 6.11% to US$50.22, while the GDX gold miners fund fell 4.40% to US$83.40.
- US inflation rose 3.7% in September, above the 3.6% forecast, lifting Treasury yields and the dollar and raising bets on Federal Reserve rate rises.
- Pan American Silver, with mines in Mexico and Peru, fell 4.94% to US$42.33, and Peru’s Buenaventura fell 3.11% to US$30.52.
- Prediction markets: Polymarket gives 80.5% that gold touches US$4,200 in October and 42% that it touches US$4,000 (US$271,213 traded, read at 8:25 pm ET on 14 October). Bets, not forecasts.
Today’s Focus
Precious metals fell hard on Wednesday 14 October after US inflation came in hotter than forecast. Gold dropped below US$4,100 and silver plunged about 6%, Kitco reported.
The GLD gold fund lost 1.49% and the SLV silver fund 6.11%. Gold miners fell more, with the GDX fund down 4.40%.
Higher US yields and a stronger dollar make metals that pay no interest less attractive.
What matters today. Silver’s fall was four times gold’s, which matters to US holders of silver funds and to Mexico and Peru, two of the world’s main silver producers.
01 The session in one read
Gold fell below US$4,100 and silver plunged about 6%. The SLV fund’s fall of 6.11% to US$50.22 is the biggest one-day loss in the group.
Gold had closed near US$4,155 on Tuesday in our RT data, so the fall is at least 1.3%.
The fall came after a hot inflation print and rising yields, and silver amplified gold’s move. Miners fell more than the metals.
The variable to watch is whether markets keep pricing Fed rate rises, because that decides the direction for gold.
02 The board
| Asset | Level | Change |
|---|---|---|
| Gold (GLD fund) | US$375.99 | -1.49% |
| Silver (SLV fund) | US$50.22 | -6.11% |
| Gold miners (GDX) | US$83.40 | -4.40% |
| Pan American Silver (PAAS) | US$42.33 | -4.94% |
| Buenaventura (BVN) | US$30.52 | -3.11% |
| Dollar index (DXY) | 102.5 | +0.34% |
The funds hold metal or miners and can differ from spot prices. Our spot feed for gold and silver was not updated for Wednesday, so spot levels come from Kitco.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 206,505.98 | -0.18% | +21.85% | 206,887.52 | 168,310 | 167,142 | — |
| IPSA | 10,966.21 | -0.49% | — | 11,020.01 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 66,659.01 | -0.46% | +12.17% | 66,965.15 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,835,843 | -1.16% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,582.29 | +0.46% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,511.74 | -1.60% | — | — | — | — | — |
| 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 US consumer price index rose 0.6% in September and 3.7% over twelve months, above the 3.6% forecast, the Bureau of Labor Statistics said. Core prices rose 2.6%, above the 2.5% forecast.
Kitco said the report lifted Treasury yields, strengthened the dollar and raised expectations of further Federal Reserve tightening. The dollar index rose 0.34% to about 102.5.
04 The Latin American read
Mexico is the world’s largest silver producer and Peru is among the top three. Both countries’ mining shares fell, with Buenaventura down 3.11% and Pan American Silver down 4.94%.
Mexico’s IPC fell 0.26% and Peru’s August trade data is due on Thursday 15 October at 03:00 UTC, with a forecast surplus of US$3.2 billion.
05 The names to watch
Pan American Silver mines silver and gold in Mexico, Peru and other countries. Buenaventura is one of Peru’s biggest precious-metals miners.
The GDX fund holds the large gold miners and fell 4.40%.
What Prediction Markets Say
Polymarket, a prediction market, priced 80.5% for gold touching US$4,200 in October and 42.0% for touching US$4,000, with US$271,213 traded (read at 8:25 pm ET on 14 October). For silver, it priced 61.5% for touching US$54 in October (US$154,774 traded).
These prices are bets, not forecasts, and they can move quickly on new data.
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.
06 The outlook
Metals will follow US yields and the dollar. US retail sales on Thursday 15 October at 12:30 UTC are the next test.
What it means for you: silver is far more volatile than gold, so a 6% day is not unusual, but the move shows how fast Fed expectations can change metals.
07 What to watch
- US yields: Further rises would keep pressure on gold and silver.
- Silver: A hold above US$50 on the SLV fund would show whether the sell-off is over.
- Mexico and Peru: Miners’ shares will follow the metals and the dollar.
- US data: US retail sales and jobless claims on Thursday 15 October at 12:30 UTC.
Background: Gold Fund Slips 0.13% as Silver Fund Drops 1.58%.
Background: IPC Gains 1.06% to 66,746.78 as Peso Firms.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
Why did gold and silver fall on 14 October?
US inflation of 3.7% beat the 3.6% forecast, lifting yields and the dollar and raising bets on Fed rate rises, Kitco reported.
How much did silver fall?
Silver plunged about 6%, Kitco said, and the SLV silver fund fell 6.11% to US$50.22.
What is the gold price?
Gold fell below US$4,100 on 14 October, according to Kitco.
Which Latin American countries produce silver?
Mexico is the largest producer and Peru is among the top three.
Market data: RT; US inflation: US Bureau of Labor Statistics; China data: National Bureau of Statistics and customs; gold and silver levels and drivers: Kitco; prediction markets: Polymarket (as of 8:25 pm ET, 14 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