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Weekly recap · Mar 9–Mar 13, 2026

Gold slipped on the week while silver edged up; dollar and Fed timing drove swings

Gold finished the week lower even as geopolitics stayed in the headlines, with several outlets tying day-to-day moves to the U.S. dollar and interest-rate expectations. Silver outperformed for the week, with some coverage pointing to tight inventories and ongoing supply deficits. Reuters reported a split physical picture: heavy discounts in India, but stronger buying interest in China linked to Middle East tensions. Several reports also highlighted continued central-bank buying in China, even near high prices. Going into next week, coverage focused on the upcoming Fed meeting and how it could reset rate-cut expectations.

AI summaryWritten automatically with AI from 38 linked reports and our own price data, Oct 21, 3:19 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made

The week in prices

  • Gold$5,044.60−1.6%
  • Silver$83.70+1.6%
  • Platinum$2,077.00−1.5%
  • Palladium$1,612.00−0.9%

Tone of the reports: Mixed

The week’s key developments

  1. Week close: gold ended Friday at $5,044.60 an ounce, down -1.6% for the week (from $5,127.55), while silver ended at $83.70, up +1.6% for the week (from $82.34). Platinum (-1.5% to $2,077.00) and palladium (-0.9% to $1,612.00) also finished lower on the week.

    SourcesAction Forex: Weekly Gold (XAU/USD) Forecast: 3% Slide to $5000/oz as Rate Cut Bets Tumble, FOMC Up NextKitco News: Gold under pressure as liquidity crunch boosts dollar ahead of Fed meetingReuters: Gold eases as firmer dollar, lingering inflation concerns weigh

  2. Dollar-and-rates pressure was a recurring theme. Reuters said gold eased as a firmer dollar and lingering inflation concerns weighed, and Kitco said gold was under pressure as a liquidity crunch boosted the dollar ahead of the Fed meeting.

    SourcesReuters: Gold eases as firmer dollar, lingering inflation concerns weighKitco News: Gold under pressure as liquidity crunch boosts dollar ahead of Fed meeting

  3. Geopolitical risk remained a key support argument in the coverage, even on down days. MarketWatch said investors were reacting to the Iran conflict, and several articles framed gold’s bid as tied to conflict risk and broader uncertainty.

    SourcesMarketWatch: Gold prices end lower as investors, rattled by Iran conflict, continue ...Bloomberg: Wealth Fund's Conflict Warnings Proves Prescient as Bets Pay Offwealthmanagement.com: Gold Outperforms Stocks by 105% Since 2024 StartSeeking Alpha: A One-Day Blip Doesn't Derail The Bull Case For Gold

  4. China’s central bank buying stayed in focus. Kitco reported the PBoC bought gold for a 16th straight month in February despite near-record prices, with similar summaries repeating the same message.

    SourcesKitco News: China’s central bank buys gold for 16th month straight in February despite near-record pricesEarlier news service: CHINA’s Central Bank Adds Gold for 16th Straight Month as Geopolitical Risks Ris..2: PBoC continues gold buying streak for 16th consecutive month

  5. Physical-market signals were mixed. Reuters reported India gold discounts hit a near-decade high, while Middle East tensions were said to be lifting gold demand in China.

    SourcesReuters: India gold discounts hit near-decade high; Mideast tensions lift China demand

  6. Silver’s backdrop looked firmer than gold in parts of the commentary. Kitco said silver is entering its eighth deficit year with inventories tightening, even though silver saw sharp day-to-day swings during the week.

    SourcesKitco News: Gold SWOT: Silver is entering its eighth deficit year, with inventories ...

  7. Macro data and inflation framing stayed central. Investing.com covered U.S. consumer prices increasing moderately, and separate coverage discussed CPI as a near-term driver for metals sentiment and rates.

    SourcesInvesting.com: US consumer prices increase moderately before Iran conflict2: Gold prices rise as markets parse mixed signals on Iran; US CPI ...Earlier news service: Gold Nears $5,200 on CPI Data

Bull vs bear

The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.

The case for higher prices

The case for lower prices

What to watch next week

  • Next weekFed meeting (FOMC)Multiple reports said shifting expectations for rate cuts and the dollar ahead of the meeting have been key drivers for gold’s direction.
  • UpcomingU.S. CPI dataSeveral reports flagged CPI as an input into inflation and rate expectations that can move the dollar and, in turn, precious metals.

Metal by metal

Gold $5,044.60 −1.67%

Reports repeatedly tied gold’s pullbacks to a firmer U.S. dollar, higher yields, and reduced expectations for near-term rate cuts ahead of the Fed meeting. At the same time, multiple outlets kept geopolitics and ongoing central-bank buying (notably China’s) in the frame as an underlying support theme.

Gold headlines

Silver $83.70 −3.83%

Kitco emphasized a longer-running supply deficit and tightening inventories, which some coverage used to explain silver’s relative resilience versus gold at points during the week. Beyond that, silver-specific reporting was thinner than gold’s.

Silver headlines

Platinum $2,077.00 −3.40%

No report focused on platinum.

Platinum headlines

Palladium $1,612.00 −1.83%

No report focused on palladium.

Palladium headlines

Day by day

  1. Monday, Mar 9Gold eased to $5,086.35 as dollar and rate talk weighed; silver jumped to $83.45
  2. Tuesday, Mar 10Gold closes at $5,209.70 as safe-haven demand and a softer dollar lift metals
  3. Wednesday, Mar 11Gold and silver slipped as dollar and yields firmed; geopolitics kept longer-term focus on gold
  4. Thursday, Mar 12Gold slipped while silver firmed; geopolitics and inflation signals stayed in focus
  5. Friday, Mar 13Gold slips to $5,044.60 as stronger dollar, Fed wait weigh; silver drops to $83.70

How this page is made

Collected every hour. Summed up twice a day. Linked to the source.

Where the news comes from

  • Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
  • Kitco News and MetalsDaily
  • The World Gold Council
  • Google News, for wider coverage
  • A daily AI web search for anything the feeds missed

How the briefs are written

Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.

Who publishes it

Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.

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