After About 6% Weekly Rout, Silver’s $60 Level Comes Under Pressure; Pension Funds Turn to Bullion Over Miners
Updated · 2026-10-03 12:09 · 2 sources cited
Silver: $60 Level in Focus After Weekly Rout
Silver price retreated on Friday, dropping about 0.76% as U.S. Treasury yields edged higher, capping U.S. Dollar depreciation, while investors punished the Greenback following a soft U.S. jobs report. XAG/USD traded at $60.50 at the time of writing. [6]
Silver suffered a weekly rout of about 6%, with bears crowding around the $60 level. [6]
Gold Allocation: Pension Funds Use Bullion Instead of Mining Stocks
In the gold sector, evidence shows that some pension funds remain cautious on mining equities because of commodity-price swings. For those funds, bullion provides exposure to the gold sector without taking on the company-specific risks of owning miners. [2]
It should be noted that the available evidence does not provide spot gold or COMEX gold quotes, nor does it include central-bank gold-purchase data; therefore, this article does not make specific numerical inferences about gold prices or official-sector demand. [2][6]
Sources
- [2] Pension funds use gold as bond hedge weakens · 2026-10-03 07:22 · www.mining.com
- [6] Silver Price Forecast: Bears crowd $60 after six-percent weekly rout · 2026-10-03 05:52 · www.fxstreet.com