Gold steadies near C$5,898 as falling yields offset hot PPI — October 16, 2026

Gold held near US$4,175 / C$5,898 per ounce (-0.3%) on Friday as falling Treasury yields and a softer U.S. dollar offset hotter September PPI data; markets now price only slim odds of an October Fed hike. Silver steadied at US$57.85 / C$81.43, while platinum climbed 0.7% to US$1,632 / C$2,329. Fed Chair Kevin Warsh, speaking at the IMF and World Bank meetings in Bangkok, declined to prejudge the October 27-28 FOMC decision, and October hike odds fell to around 15%. The 10-year Treasury yield retreated toward 5.09% and the dollar headed for its first weekly fall in five weeks, while haven demand stayed firm amid equity unease and geopolitical headlines. Investor take: With the 10-year yield down about 10 bps and hike odds fading, bullion's yield headwind is easing — dips toward C$5,870 look like accumulation zones, while a break above C$5,960 reopens the path to C$6,000. Gold is pressing the $4,188 4-hour resistance; a close above opens $4,217 and $4,262. Jeweler take: Silver heads for a sixth straight annual supply deficit (about 46M oz in 2026) and the PBoC bought gold for a 23rd straight month — white-metal premiums stay firm. Lock in silver and platinum melts on flat days like this. Coming up — events that will move metals this week: Mon Oct 19: Canada CPI (Sep), 8:30 AM ET — shapes the BoC decision on Oct 28; moves the loonie and CAD metal prices. Wed Oct 21: UK CPI (Sep), 2:00 AM ET — BoE input; sets the global inflation tone for bullion. Fri Oct 23: S&P Global flash PMIs (US), 9:45 AM ET, plus UMich sentiment final, 10:00 AM ET — growth pulse; weak prints aid metals via lower yields. Wed Oct 28: FOMC rate decision, 2:00 PM ET (no SEP or dot plot) — the main event; October hike odds near 15%, December still priced. Fed blackout begins Sat Oct 17. BoC decision the same day, 9:45 AM ET. Thu Oct 29: US Q3 GDP advance plus September core PCE, 8:30 AM ET — the Fed's preferred inflation gauge. Live prices: https://www.goldstocklive.com