Gold Fund Slips 0.13% as Silver Fund Drops 1.58% | Gold & Silver, Oct 13
The GLD gold fund slipped 0.13% to US$381.67 on Tuesday 13 October while the SLV silver fund fell 1.58% and Pan American Silver lost 2.58%. The post Gold Fund Slips 0.13% as Silver Fund Drops 1.58% | Gold & Silver, Oct 13 appeared first on The Rio Times .
On Tuesday, October 13th, precious-metal funds experienced a slight decline. The GLD fund, which holds physical gold, slipped 0.13% to US$381.67, while the SLV silver fund dropped 1.58% to US$53.49. Gold and silver miners experienced a more pronounced downturn, with the GDX fund falling 1.46% to US$87.24, and Pan American Silver, a company that operates mines across Latin America, declining 2.58% to US$44.53.
Silver and the miners fell due to the US dollar weakening, which negatively affected investors holding the funds and indicated that it was not merely a currency-related move. Gold, on the other hand, remained relatively stable. This pattern often suggests that investors are reducing risk within the metals sector.
The silver fund's decline extends Monday's 0.78% drop, resulting in a two-day total decrease of 2.35% for the fund, from US$54.78 on Friday to US$53.49 on Tuesday. Meanwhile, gold maintained its position, with silver acting as the variable to monitor for continued stability above US$60.
The latest spot bars, dated October 12th, show gold down 0.47% at US$4,170.89 and silver down 1.13% at US$60.25. Once the data provider releases Tuesday's spot close, that figure will be used for tracking purposes.
Currently, there is no known news catalyst for Tuesday's decline. The dollar index fell 0.36% to 102.2, a move that typically supports metals, yet it did not lead to a rise in their prices. The upcoming release of US consumer prices for September on Wednesday, October 14th, at 12:30 UTC (8:30 am ET) has traders positioning cautiously.
Mexico is the world's largest silver producer, while Peru ranks among the top silver producers. Silver prices directly impact mining revenue and export income in both countries. Pan American Silver, which has mines across Latin America, saw the largest share price decrease on the board, falling to US$44.53 in New York.
Gold miners represented by the GDX fund can serve as a gauge for investors' valuation of mining profits at current prices, falling 1.46% on Tuesday. Pan American Silver's significant drop underscores its prominence in the sector. Polymarket and Kalshi, prediction markets regulated by the CFTC, offer insights into market expectations by pricing gold touching US$4,300 in October at 46.5% and US$4,000 at 37%, with substantial trading volumes on each platform.
Investors are now closely following prediction markets due to their real-money bets turning into live probabilities that shift rapidly in response to news, making them valuable tools for informed decision-making alongside traditional polls and official results.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
