Gold down 3.0% and silver down 8.8% in Australian dollars
Published 31 October 2026
Gold fell 3.0% in US dollars and silver fell 8.9%. The Australian dollar weakened slightly against the US dollar, down 0.1%, with A$1 buying 70.33 US cents at the start of the week and 70.29 cents at the end. A weaker Australian dollar raises the Australian price of metal priced in US dollars, but the US dollar falls were large enough that gold still ended the week down 3.0% in Australian dollars and silver down 8.8%.
A premium is what a buyer pays above the value of the metal itself. Median gold premiums eased slightly for 10g, 1oz and 10oz bars, were unchanged for 100g bars, and rose slightly for 1/2oz and 1oz coins. Silver premiums were unchanged for 1oz bars but rose for 1oz coins, 10oz bars and 1kg bars.
Silver moved far more than gold this week, both in US dollars and in Australian dollars.
| Sat 24 Oct | Sat 31 Oct | Change | |
|---|---|---|---|
| 1 AUD buys, in US cents | 70.33c | 70.29c | -0.1% |
| Gold, USD per oz | 3,996.30 | 3,875.65 | -3.0% |
| Gold, AUD per oz | 5,681.84 | 5,513.82 | -3.0% |
| Silver, USD per oz | 53.92 | 49.14 | -8.9% |
| Silver, AUD per oz | 76.66 | 69.90 | -8.8% |
The Australian dollar price is calculated by converting the US dollar price at the current exchange rate. At the end of the week, USD 3,875.65 divided by 0.702897 gives AUD 5,513.82 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 23 Oct | Fri 30 Oct | Change |
|---|---|---|---|
| Gold spot, AUD per oz | 5,732.37 | 5,643.91 | -1.5% |
| 10g gold bars | 10.4%~2,034 AUD | 10.2%~1,999 AUD | -0.2 pts |
| 1oz gold bars | 3.5%~5,930 AUD | 3.3%~5,829 AUD | -0.2 pts |
| 100g gold bars | 2.9%~18,972 AUD | 2.9%~18,675 AUD | unchanged |
| 10oz gold bars | 3.2%~59,158 AUD | 3.0%~58,149 AUD | -0.2 pts |
| 1/2oz gold coins | 6.7%~3,057 AUD | 6.8%~3,014 AUD | +0.1 pts |
| 1oz gold coins | 5.1%~6,024 AUD | 5.2%~5,935 AUD | +0.1 pts |
| Silver spot, AUD per oz | 76.76 | 71.41 | -7.0% |
| 1oz silver bars | 14.7%~88 AUD | 14.7%~82 AUD | unchanged |
| 1oz silver coins | 19.2%~91 AUD | 20.0%~86 AUD | +0.8 pts |
| 10oz silver bars | 14.6%~879 AUD | 15.2%~823 AUD | +0.6 pts |
| 1kg silver bars | 10.4%~2,725 AUD | 10.7%~2,542 AUD | +0.3 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.
All Market Notes Gold and silver price charts Compare products