10/13/2026
After weeks of extraordinary market volatility, this past week brought some welcome relief. Oil prices edged higher, but the diesel squeeze hasn't materially worsened. Meanwhile, the relentless global bond market selloff finally stalled, halting the increasing surge in interest rates.
While gold and silver weakened further, as I warned was probable in my last commentary, they firmed up sharply on Friday as buyers stepped in under $4,100 for gold and $60.00 for silver.
But the biggest development came late Friday afternoon, in a classic election year October surprise. In a complete political reversal and a move that smacks of desperation, President Trump announced the US would buy diesel from Russia. The reality is, in the bigger picture, it won't matter. I'll explain why.
In this AGE Gold Commentary, recorded after Friday's October 9 market close, I'll break down the latest precious metals price action, the shifting dynamics in bond yields and energy markets, and what President Trump's stunning announcement could mean for energy prices, which have been the leading and major influencing factor for interest rates and precious metals price action.
Sincerely,
Dana Samuelson
AGE President
CHAPTERS:
00:00:00 Intro: Bond Selloff Stalls, Metals Rebound
00:01:00 Brent Crude and the Crack Spreads
00:03:00 Refiner Profits and Record Freight Costs
00:05:00 The October Surprise: Trump and Putin’s Diesel Deal
00:07:00 Bond Selloff Stalls as Yields Ease
00:09:00 Dollar Index Hits New High, Then Stalls
00:10:00 Gold Rebounds Off 4,110 Support
00:11:00 Silver Holds Near $60
00:13:00 Gold to Silver Ratio and Platinum
00:14:00 Palladium Finds Support
00:15:00 Diesel Outlook and Why These Bottoms Matter
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