Gold and silver lost more than $1 trillion in combined value on Monday, September 28, 2026, according to Investing.com. The outlet reported a steep decline in both metals, with gold deepening its losses as the U.S. market opened amid a broader stock selloff.
Investing.com also reported that gold prices fell further as U.S. markets began trading while equities dropped. A separate report from Argaam put gold down more than 3% and silver down 5%.
Coverage from Asharq Bloomberg and another outlet, Ajl, attributed the pressure on gold to rising oil prices and climbing U.S. bond yields, along with inflation concerns. The reports did not specify further details on the scale of the losses or the trading levels involved.
The selloff came as rising oil prices and higher U.S. bond yields weighed on gold, which typically struggles when yields rise because it pays no interest. Inflation worries added to the pressure, according to the reports.
Investing.com's headline framed the drop in gold and silver as a violent fall, with the two metals giving up more than $1 trillion in value. The reports did not break down how that figure was calculated or how it was split between the two metals.
Investors will be watching whether gold and silver extend their losses or stabilize, and how oil prices, U.S. bond yields and equity markets move in the sessions ahead.
