Gold and silver fall in Australian dollars as US prices drop
Published 17 October 2026
Gold fell 0.7% in US dollars and silver fell 6.3%. The Australian dollar weakened 0.5% against the US dollar, with A$1 buying 69.85 US cents at the start of the week and 69.51 US cents at the end. A weaker Australian dollar raises the local price of metal priced in US dollars, so it softened some of the US dollar fall. The result was gold down 0.2% and silver down 5.8% in Australian dollars. Gold now sits at A$5,993.91 an ounce and silver at A$82.00.
A premium is what a buyer pays above the value of the metal itself. The median premium for 1oz gold bars was unchanged at 3.4%. The 1oz gold coin premium rose 0.1 percentage points to 5.1%. Silver premiums moved more: 1oz coins rose 1.9 percentage points to 19.3%, 10oz bars rose 0.4 percentage points to 15.1%, and 1kg bars rose 0.1 percentage points to 10.0%.
| Sat 10 Oct | Sat 17 Oct | Change | |
|---|---|---|---|
| 1 AUD buys, in US cents | 69.85c | 69.51c | -0.5% |
| Gold, USD per oz | 4,194.35 | 4,166.13 | -0.7% |
| Gold, AUD per oz | 6,004.49 | 5,993.91 | -0.2% |
| Silver, USD per oz | 60.82 | 57.00 | -6.3% |
| Silver, AUD per oz | 87.07 | 82.00 | -5.8% |
The Australian dollar price is calculated by converting the US dollar price at the current exchange rate. At the end of the week, USD 4,166.13 divided by 0.69506 gives AUD 5,993.91 for gold. When the Australian dollar strengthens against the US dollar, the same US dollar price converts to fewer Australian dollars. When it weakens, it converts to more.
| Size | Fri 9 Oct | Fri 16 Oct | Change |
|---|---|---|---|
| Gold spot, AUD per oz | 6,004.94 | 5,993.91 | -0.2% |
| 1oz gold bars | 3.4%~6,207 AUD | 3.4%~6,198 AUD | unchanged |
| 1oz gold coins | 5.0%~6,304 AUD | 5.1%~6,300 AUD | +0.1 pts |
| Silver spot, AUD per oz | 87.08 | 82.00 | -5.8% |
| 1oz silver coins | 17.4%~102 AUD | 19.3%~98 AUD | +1.9 pts |
| 10oz silver bars | 14.7%~998 AUD | 15.1%~944 AUD | +0.4 pts |
| 1kg silver bars | 9.9%~3,077 AUD | 10.0%~2,901 AUD | +0.1 pts |
Spot prices are from our hourly records, in US dollars with the exchange rate stored alongside, so the Australian dollar price can be split into the metal and the currency. Premiums are the median across the dealers we track, as charted on each size page. This is information, not financial advice.
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