Spot gold retreated on Friday October 24, currently trading at $4103.35 and falling $23.08, continuing a week of significant profit-taking after the metal’s extraordinary surge to all-time highs. Silver experienced a more modest decline, slipping to $48.57 per ounce, down $0.33. The decline came after the U.S. Bureau of Labor Statistics released September’s delayed Consumer Price Index (CPI) report, showing prices rising 0.3% monthly and 3.0% year-over-year — slightly above August’s 2.9% pace and in line with analysts’ expectations. Core inflation, which excludes food and energy, increased 0.2% on the month and held steady at an annual rate of 3.0%. Rising energy costs, led by a 4.1% jump in gasoline prices, accounted for the bulk of the increase, while rents and essential services remained sticky. The softer-than-feared report initially boosted risk sentiment, sending Treasury yields lower and the dollar higher as markets reaffirmed their bets on a 25-basis-point Federal Reserve rate cut at next week’s policy meeting. However, the stronger greenback weighed on commodity demand, pushing gold from its early-session highs and prompting dip-buying interest to fade. The precious metals complex experienced one of its most volatile weeks in years, with gold posting its largest single-day percentage decline in over a decade on October 21, when it plummeted 5.39%—some $235 in absolute terms—as profit-taking swept through previously bullish positioning.
A recent Barron’s feature titled “U.S. Silver Coins Minted Before 1965 Offer Play on Metal” highlights how old U.S. silver coins—commonly referred to as “junk silver”—have reemerged as an attractive physical investment amid record-high silver prices. The article explains that pre-1965 dimes, quarters, and half-dollars, which contain 90% silver, now carry significant intrinsic metal value, with pre-1965 quarters alone worth nearly $9.50 each at current spot levels. USAGOLD’s owner, Jonathan Kosares, is quoted discussing how these coins serve as a practical, recognizable, and divisible way for investors to gain direct exposure to silver without paying the higher premiums often attached to newly minted bullion products. He notes that junk silver’s historical authenticity, broad liquidity, and ease of exchange make it an appealing hedge against inflation and financial system risk, particularly for investors seeking diversification in physical metal holdings beyond traditional bars and rounds.
