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On Friday, November 6, 2026, gold handed back part of its post-election rally after a far stronger-than-expected October jobs report lifted the dollar and Treasury yields in morning trade. Gold spot price is trading at $4,049.69 per ounce, down $38.28 (-0.94%) on the day. Silver spot price is trading at $51.87 per ounce, up $0.08 (+0.15%) on the day. Silver’s relative firmness nudged the gold-silver ratio down to 78.07. The catalyst arrived at 8:30 a.m. ET, when the Bureau of Labor Statistics reported that nonfarm payrolls rose 165,000 in October, nearly triple the ~60,000 consensus, while the unemployment rate slipped to 4.1% and prior months were revised up by 84,000 jobs. The dollar index jumped about 0.7% and futures markets lifted the odds of a December Fed rate hike toward 75%, pressuring the metal that pays no yield. Yet the damage was contained: even after today’s dip, gold is up about 4.5% on the week, its best showing since late summer, and retail coin demand has stayed firm. For anyone checking the gold spot price today and the silver spot price today, the move is a one-day repricing, not a trend change. Underneath the headline, this daily precious metals market report finds the physical precious metals market still leaning on a monetary bid that does not trade the payrolls print.
The clearest read on that monetary bid came on November 4, 2026, when the World Gold Council published its “Central Bank Gold Statistics: September 2026”, authored by senior research lead Marissa Salim. Official institutions added a net 61 tonnes of gold in September, the single largest monthly total of 2026 so far, led by Poland and China, with Uzbekistan, Kazakhstan, Jordan, the Czech Republic, and Bolivia also buying and no central bank reporting a net sale. The data point most readers will skim past is the contrast inside the numbers: year-to-date official buying of 228 tonnes is running about 7% below last year’s pace, yet the monthly figure is accelerating into the fourth quarter rather than fading. That matters because the slower annual pace has been widely framed as central banks losing their appetite near record prices, and September says the opposite. When the fastest official buying month of the year shows up this late in a record-price year, it signals that the official sector treats elevated levels as a floor to accumulate against, not a ceiling to sell into. There is a second, quieter tell: the 61-tonne figure counts only publicly reported changes, and the Council notes its broader demand series adds an estimate for unreported buying, while quarterly-only reporters such as Azerbaijan’s SOFAZ are excluded entirely, so the true September total is almost certainly higher. For the stacker, jeweler, or retirement saver weighing today’s $38 pullback, the signal is that the most price-insensitive, deep-pocketed buyers on earth stepped up their pace exactly as paper traders sold the jobs number. That kind of demand underwrites pre-1933 U.S. gold coins and physical bullion far better than any single data release, and it is why a gold-silver ratio near 78 looks less like weakness than an opening to add silver coins and bullion at a discount. This daily precious metals market report will keep tracking whether the official-sector bid holds the line as the rally matures.
