Gold Prices Today, October 30, 2026: Record $2,847 as Real Yields Fall

Gold is trading at altitude after a record-setting session. Spot bullion set a fresh all-time high of $2,852 an ounce on Friday before settling near $2,847 in late London trade, after the softer U.S. employment report cut nominal and real yields and extended the metal's fourth consecutive weekly gain. The weekly gain of roughly 1.9% extends a run that has now added more than 30% year to date. Silver changed hands at $35.10.

The transmission channel is textbook. A cooler wage print — average hourly earnings up 3.5% year over year — pulled the 10-year TIPS real yield down about five basis points, trimming the opportunity cost of holding a non-yielding asset. Global gold ETF holdings added 41 tonnes in September, according to the World Gold Council, a sign that Western allocation demand has rejoined the official-sector trade. Futures data show managed-money net longs still elevated but below the August 2020 extremes.

Central-bank demand remains the structural bid. Official-sector purchases reached 213 tonnes in the third quarter, World Gold Council data show, and reserve managers have continued to report additions through October. Global bullion-backed holdings stand at their highest in three years. "The market is treating every soft data point as confirmation that the real-yield peak is behind us," said Elena Marchetti, commodities strategist at Aurora Metals. "$2,900 is the next psychological level, but with December hike odds still above 60%, a hot ISM print next week could easily knock $60 off the top."

Mining equities continue to outperform the metal: the NYSE Arca Gold Miners Index is up 42% year to date, and a second-tier producer rally broadened on Friday as smaller names caught up with the majors. Physical premiums in key Asian hubs held firm through the week. With bullion up more than 30% in 2026, the risk now sits squarely on the data calendar — Wednesday's ISM prices-paid component is the first test of whether real yields keep falling.