Gold and silver fall in Australian dollars as the dollar firms
Published 24 October 2026
Gold fell 4.1% in US dollars this week and silver fell 5.4%. The Australian dollar strengthened 1.2% against the US dollar, with A$1 buying 69.50 US cents at the start of the week and 70.33 US cents at the end. A stronger Australian dollar lowers the Australian price of metal priced in US dollars, so gold fell 5.2% in Australian dollars and silver fell 6.5%. Gold now spot sits at A$5,682.42 per ounce and silver at A$76.67 per ounce.
A premium is what a buyer pays above the value of the metal itself. Median premiums were mostly steady to slightly higher this week. Gold bars rose 0.1 percentage points across the 10g, 1oz and 10oz sizes, 100g gold bars were unchanged, 1oz gold coins rose 0.3 points and 1/2oz gold coins fell 0.1 points. Silver bars were unchanged across the 1oz and 10oz sizes, 1kg silver bars rose 0.4 points and 1oz silver coins rose 0.6 points.
Both metals fell by more in Australian dollars than in US dollars, reflecting the stronger local currency over the week.
| Sat 17 Oct | Sat 24 Oct | Change | |
|---|---|---|---|
| 1 AUD buys, in US cents | 69.50c | 70.33c | +1.2% |
| Gold, USD per oz | 4,166.13 | 3,996.30 | -4.1% |
| Gold, AUD per oz | 5,994.06 | 5,682.42 | -5.2% |
| Silver, USD per oz | 57.00 | 53.92 | -5.4% |
| Silver, AUD per oz | 82.01 | 76.67 | -6.5% |
The Australian dollar price is calculated by converting the US dollar price at the current exchange rate. At the end of the week, USD 3,996.30 divided by 0.703274 gives AUD 5,682.42 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 16 Oct | Fri 23 Oct | Change |
|---|---|---|---|
| Gold spot, AUD per oz | 5,996.24 | 5,732.37 | -4.4% |
| 10g gold bars | 10.3%~2,126 AUD | 10.4%~2,034 AUD | +0.1 pts |
| 1oz gold bars | 3.4%~6,200 AUD | 3.5%~5,930 AUD | +0.1 pts |
| 100g gold bars | 2.9%~19,832 AUD | 2.9%~18,972 AUD | unchanged |
| 10oz gold bars | 3.1%~61,845 AUD | 3.2%~59,158 AUD | +0.1 pts |
| 1/2oz gold coins | 6.8%~3,203 AUD | 6.7%~3,057 AUD | -0.1 pts |
| 1oz gold coins | 4.8%~6,285 AUD | 5.1%~6,024 AUD | +0.3 pts |
| Silver spot, AUD per oz | 82.98 | 76.76 | -7.5% |
| 1oz silver bars | 14.7%~95 AUD | 14.7%~88 AUD | unchanged |
| 1oz silver coins | 18.6%~98 AUD | 19.2%~91 AUD | +0.6 pts |
| 10oz silver bars | 14.6%~951 AUD | 14.6%~879 AUD | unchanged |
| 1kg silver bars | 10.0%~2,934 AUD | 10.4%~2,725 AUD | +0.4 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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