Gold and Silver Prices Today, October 22, 2026 Midday: Silver Extends Its Slide

Gold and silver remained under pressure in Thursday’s U.S. midday session, and silver continued to fall faster. A same-time, same-source comparison from the GoldSilver.top price feed showed gold at $4,038.30 and silver at $54.925 per troy ounce at 12:59:41 p.m. Eastern Time on October 22, 2026.

These are indicative spot-reference prices, not a daily close, futures settlement, dealer quote, or retail bullion price. Metals were still trading when this snapshot was taken.

Midday gold and silver prices at a glance

The GoldSilver.top API reported the following at 12:59:41 p.m. ET:

• Gold: $4,038.30 per troy ounce
• Silver: $54.925 per troy ounce
• Gold-silver ratio: approximately 73.52
• Implied gold price per gram: approximately $129.83
• Implied silver price per gram: approximately $1.766

The per-gram figures divide the per-ounce quotes by 31.1034768 grams, the mass of one troy ounce. They do not include fabrication costs, dealer premiums, shipping, sales tax, or bid-ask spreads.

Comparison with Wednesday’s equivalent midday snapshot

For a clean previous-trading-day comparison, the same site feed recorded gold at $4,133.10 and silver at $57.707 at 12:59 p.m. ET on Wednesday, October 21.

From that comparable snapshot to Thursday midday:

• Gold declined $94.80, or 2.29%.
• Silver declined $2.782, or 4.82%.
• Silver’s percentage loss was about 2.1 times gold’s loss.
• The gold-silver ratio widened from approximately 71.62 to 73.52.

A rising gold-silver ratio means one ounce of gold buys more ounces of silver. In this case, the change reflects silver’s greater percentage decline—not a rise in gold.

What changed after Thursday morning?

Our [October 22 morning update](/blog/usa-gold-silver-prices-october-22-2026-morning) captured Kitco indicative spot bids near $4,083.30 for gold and $55.80 for silver at 4:56–4:57 a.m. ET.

Kitco’s precious-metals board later showed a 12:39 p.m. ET gold bid/ask of $4,043.20/$4,045.20 and a silver bid/ask of $54.80/$55.05. Comparing Kitco bid with Kitco bid:

• Gold lost another $40.10, or 0.98%, from the early-morning reading.
• Silver lost another $1.00, or 1.79%.

That confirms the midday move was not just a difference between data providers: within Kitco’s own readings, selling continued and silver again underperformed gold.

The GoldSilver.top API and Kitco figures are close but not identical because spot feeds can use different contributors, update cycles, and price conventions. The site API supplies a single reference price; Kitco displays a bid and ask. Neither should be mixed indiscriminately with futures prices or retail coin offers.

Why did gold and silver fall?

Oil revived the higher-for-longer rate concern

Reuters reported at 11:25 a.m. ET that spot gold was down 2.1% at $4,055.69 and spot silver was down 4.6% at $55.28. The report linked the selling to a roughly 2% rise in oil toward a five-month high after attacks in Saudi Arabia raised concern about energy-supply disruption.

Higher energy costs can add to inflation pressure. When traders expect inflation to keep the Federal Reserve restrictive for longer, yields and the opportunity cost of holding non-interest-bearing metals can become a headwind. Gold may be described as a long-run inflation hedge, but it does not have to rise during every inflation scare—especially when the immediate market reaction is to price tighter monetary policy.

Recent U.S. inflation data reinforced the concern

The Bureau of Labor Statistics reported that the Consumer Price Index rose 0.6% in September and 3.7% over 12 months. Gasoline rose 9.1% for the month and accounted for more than half of the monthly all-items increase. That official release predates Thursday’s trading, but it helps explain why a fresh oil jump could quickly affect rate expectations.

Labor data did not signal an urgent need for easier policy

Reuters also reported Thursday that new U.S. unemployment claims fell by 6,000 to a seasonally adjusted 194,000 in the week ended October 17, near a 57-year low. Low layoffs suggest the labor market remains resilient. In isolation, that does not determine Federal Reserve policy, but it gives policymakers less reason to offset inflation pressure with rapid easing.

Why was silver weaker than gold?

Silver trades as both a precious metal and an industrial input. Its smaller, less liquid market can amplify price moves, while concern about growth or industrial demand can add pressure that gold does not experience in the same way.

Thursday’s relative move is visible in the math: silver was down 4.82% from the prior day’s comparable site-feed quote, versus 2.29% for gold. This one-session relationship does not predict the next move. It simply shows that silver carried more downside volatility in this comparison.

Spot, bid/ask, futures, and retail prices are different

“Gold price today” can refer to several different markets:

• Indicative spot price: a wholesale reference for metal available for prompt delivery. GoldSilver.top’s API returns one such reference price.
• Spot bid/ask: the bid is what a market participant indicates it will pay; the ask is what it indicates it will sell for. Kitco showed both at 12:39 p.m. ET.
• Futures: standardized exchange contracts for delivery in a stated month. Reuters reported December U.S. gold futures at $4,071.40 around 11:25 a.m. ET. That was not a settlement price.
• Retail bullion: the checkout price for a coin, round, or bar. It normally includes a premium above a spot reference, while a dealer’s buyback price may be below retail and sometimes below spot.

For more on ounces and grams, see [Why Is Gold Measured in Troy Ounces?](/blog/why-gold-measured-in-troy-ounces). Investors comparing funds with bullion should also review [Why Gold Funds Can Lag the Gold Price](/blog/why-gold-funds-lag-gold-price-fees-tracking).

What to watch next

The October 27–28 Federal Reserve meeting is the next major policy event identified in the Reuters market report. The September inflation release and energy prices are likely to remain relevant, while the October CPI is not due until November 10, according to the BLS schedule.

Until Thursday’s session ends, every intraday reading should be treated as a snapshot rather than a closing price. A later quote may differ materially.

Frequently asked questions

What was the gold price at Thursday midday?

The GoldSilver.top API reported $4,038.30 per troy ounce at 12:59:41 p.m. ET on October 22, 2026. Kitco showed a $4,043.20 bid and $4,045.20 ask at 12:39 p.m. ET. The difference reflects source and quote-method variations.

What was the silver price at Thursday midday?

The site API reported $54.925 per troy ounce at 12:59:41 p.m. ET. Kitco showed a $54.80 bid and $55.05 ask at 12:39 p.m. ET.

Which metal fell more versus Wednesday midday?

Silver. Using the site feed’s comparable 12:59 p.m. ET snapshots, silver fell 4.82%, while gold fell 2.29%.

Are these prices what a U.S. buyer pays for coins or bars?

No. Retail bullion includes product premiums and may also involve shipping, payment-method charges, and applicable taxes. Dealer inventories and local demand can cause retail quotes to move differently from wholesale spot references.

Is this the October 22 closing price?

No. The principal snapshot is from 12:59:41 p.m. ET, before the trading day ended. The article does not claim a daily close.

Sources and methodology

This article was prepared on October 22, 2026 for the U.S. midday session.

• [GoldSilver.top price API](https://goldsilver.top/api/prices): current and historical reference prices; `quoteAt` timestamps were converted from UTC to Eastern Daylight Time.
• [Kitco precious-metals prices](https://www.kitco.com/price/precious-metals): timestamped bid/ask snapshots and intraday ranges.
• [Reuters: Gold falls to more than two-month low as oil-fuelled inflation fears weigh](https://www.reuters.com/world/india/gold-drops-over-1-oil-rally-reinforces-higher-for-longer-rate-outlook-2026-10-22/): intraday spot and futures context, oil, and rate expectations.
• [Reuters: U.S. weekly jobless claims near 57-year lows](https://www.reuters.com/business/us-weekly-jobless-claims-near-57-year-lows-2026-10-22/): October 22 labor-market update.
• [U.S. Bureau of Labor Statistics: September 2026 CPI](https://www.bls.gov/news.release/cpi.htm): official inflation data.

Changes were calculated as current price minus comparison price; percentage change equals that difference divided by the comparison price, multiplied by 100. Figures are rounded for readability. This content is educational and does not provide personalized investment advice.