Gold rebounds to $4,094.43 on 9 November 2026, according to Reuters, with spot gold up 0.7% on the day and silver up 1.2% at $52.51. Gold rebounds after falling below $4,000 an ounce on 30 October, when it dropped by 3.5% on the day and closed October down 6.9% at $3,898.90. December futures were at $4,103.60 on 9 November, showing traders expected the recovery to hold in the near term.
Gold fell to a one-year low near $3,900 an ounce in late October, then cleared $4,130 by 5 November, according to CPM Group data. Gold was at $3,902.03 on 2 November, before rallying to $4,134.83 by 5 November as the dollar and Treasury yields fell. Silver also recovered, rising to $53.12 by 5 November from $50.08 on 2 November, after losing 18.6% in October to $49.28.
Gold Rebounds
Reuters tied the October fall to a technology-stock sell-off that forced selling of liquid safe-haven assets. The World Gold Council described the move as a leveraged repricing, meaning investors who had borrowed money to buy gold were forced to sell when prices fell. Gold margin reportedly rose from 6% to 8%, and silver margin from 11% to 15%, making it more expensive to hold leveraged positions. The price record itself is not in dispute, although one report claiming a 9% fall in a single session does not match Reuters or CME data.
Investment demand remained strong through the fall. Global gold exchange-traded funds added 19 tonnes, worth $2.7 billion, in October, taking holdings to a record 4,275 tonnes. Central banks bought about 321 tonnes in the third quarter, up 42% year on year, and CPM Group estimates gold investment demand at a record 66.7 million ounces in 2026, up from about 28 million ounces in 2023.
For investors, the rebound shows gold can recover quickly after a sharp fall, especially when the dollar weakens. The World Bank forecasts gold at about $4,250 in 2027 and about $4,000 in 2028, while CPM Group believes gold and silver may have formed a temporary bottom around $4,000. Investors will watch the United States inflation report on 10 November and the Federal Reserve meeting on 8-9 December for clues on rates and the dollar.
Source: Discovery Alert
