Reader angle: The silver angle: why its drop looked bigger
Silver and gold often move together, but they do not move by the same percentage. On September 28, 2026, a late-U.S.-session Kitco report put spot silver near $61.02 per troy ounce, down about 5% on the session, while spot gold was near $4,131, down about 3.8%. That difference matters if you own silver coins, bars, or sterling.
The immediate backdrop: yields and rate expectations
Kitco linked the day's decline to rising oil prices, higher Treasury yields, and expectations of another U.S. rate increase. Higher yields can pressure both gold and silver because neither metal pays interest. This is a description of the reported market backdrop, not a prediction that rates or prices will keep moving in one direction.
Why silver can swing more
Silver has both an investment market and industrial uses. Its smaller market can react sharply when investor positioning changes, while expectations for manufacturing and other industrial demand add another influence. That mix can make silver's percentage moves larger than gold's in either direction. The September 28 difference is consistent with that tendency, but it does not prove which specific factor drove each trade.
Compare percentages, not just dollar drops
Gold and silver trade at very different dollar prices per ounce. Comparing how many dollars each lost is misleading; compare percentage moves over the same period instead. Also check whether an article quotes spot prices or futures, and whether both figures were captured at the same time.
What silver owners can do
- Separate .999 bullion, 90% silver coins, sterling items, and plated pieces before estimating value.
- Do not clean old coins; dates, mintmarks, and condition can affect collector value.
- Check the live spot price at the appraisal, not only the snapshot in this article.
- Ask how the offer accounts for purity, non-silver components, condition, and buyer costs.
The $61.02 silver figure is an approximate spot quote reported in late U.S. trading on September 28, 2026. It is neither a live quote nor a guaranteed buying price.
Sources and live-price references
- Kitco NewsWire, September 28, 2026 market report
- Kitco live silver spot chart
- Kitco live gold spot chart
Not sure whether you have sterling, plated silver, or a collectible coin? Ask for a no-obligation appraisal before deciding what to sell.