Thursday, October 8, 2026
Gold settled at $4,113.80 on October 7, down 22.65 percent from its January record of $5,318.40. The metal has given back a fifth of its peak, and the forces that drove it there have not gone anywhere.
Brent crude averaged $114 a barrel in September, up from $71 in February. Natural gas at Henry Hub averaged $2.95 per million British thermal units, a few cents below September 2025, while buyers in Europe and Asia were paying $24 to $27. The United States is producing record amounts of gas, and its export terminals are already running flat out.