Issue 19 · week ending October 24, 2026
October 24, 2026
Gold ended its worst selloff since early June just under $4,000, and Wall Street's weekly survey turned bearish while Main Street stayed hopeful. Also: September Mint production, Somalia's 35-year-old banknotes, and the coins headlining Sunday's GreatCollections close.
Gold and silver kept sliding into Friday's close, with spot gold near $3,995.81 (down 0.70%) and silver near $53.896 (down 1.26%) as Hormuz tensions pushed crude above $116 and year-ahead consumer inflation expectations rose to 4.7%, ahead of the Fed's Oct. 27–28 meeting.
Kitco News (Kitco NewsWire) printed gold ~$3,995.81 (−0.70%), silver ~$53.896 (−1.26%); year-ahead inflation expectations 4.7% (2026-10-23).
Kitco's Weekly Gold Survey turned bearish after gold set a weekly low of $3,975.10: seven of 17 Wall Street analysts (41%) expect lower prices next week and four (24%) expect gains, while 67 of 161 Main Street voters (42%) still look for a rise.
Kitco News (Ernest Hoffman) printed weekly low $3,975.10; Wall Street 41% lower / 24% higher / 35% sideways of 17; Main Street 42% higher of 161 votes (2026-10-23).
With $4,000 broken, Saxo Bank's Ole Hansen told Kitco he's watching $3,970 as the next major support, while BCA Research's Roukaya Ibrahim said Thursday's drop looks tied to cross-asset liquidity pressure rather than the start of a sharper downtrend.
Kitco News (Neils Christensen) printed next support $3,970; spot gold last $3,992.30, down more than 4% on the week (2026-10-23).
The Mint struck 342.5 million circulating coins in September, up 47.4% from August's 232.4 million, as quarter output nearly tripled and Philadelphia added another 4.1 million President Trump $1 coins. Production through September is still 36.6% below the same stretch of 2025.
CoinNews.net printed 342.5 million coins in September, +47.4% vs. August's 232.4 million; 4.1 million Trump $1; year to date −36.6% (2026-10-23).
Somalia still runs on banknotes that have circulated for about 35 years, and merchants increasingly refuse them. Giedroyc recounts a 2017 IMF report that put 98% of the notes in circulation as counterfeit, and years of promises of a new currency.
Numismatic News (Richard Giedroyc) printed 2017 IMF estimate 98% of circulating notes counterfeit; no sale figure (2026-10-23).
This week's GreatCollections Top Ten, closing Sunday, Oct. 25, is led by an 1869 Liberty quarter eagle in PCGS Proof-65 Cameo (CAC Gold) from a proof mintage of 25, alongside the single finest PCGS 1882-O Morgan dollar at MS-68+ and a Fr. 1220 1922 $1,000 gold certificate in PMG Very Fine 30.
GreatCollections (Ian Russell) printed bidding still open; no prices realized yet (closes 2026-10-25) (2026-10-23).
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