CPM Group Managing Director Jeffrey Christian reviewed the gold and silver markets in a presentation published by Kitco on October 16, 2026. Silver broke below $60 an ounce and traded near $55.77 during the session, a weaker showing than gold, which held around $4,197 and has stayed inside a $4,050 to $4,200 range for several weeks.
CPM Group attributes the gap between the two metals to demand structure. Gold draws buyers as a broad financial safe haven. Silver carries a larger industrial component, and that segment faces pressure from substitution and from manufacturers using less silver per product at elevated prices.
Investment flows in gold offer a contrast to the price decline. Gold ETF holdings rose by about 3 million ounces in August and another 2 million ounces in September, even as prices fell during September. Christian also cited reports of strong physical demand from dealers around the world.
CPM Group expects continued volatility and possible further near-term declines. The firm said the longer gold consolidates inside its current range, the greater the chance of a sharp downward move, and it would not be surprised by a selloff followed by renewed buying and a decisive break above $4,200. Some investors are waiting for gold to drop below $4,000 before buying, and CPM expects strong investment demand if prices reach that level.
For other metals, Christian pointed to platinum support near $1,600 and noted that palladium faces exposure to weaker automotive and electronics demand. CPM Group, a commodities research and advisory firm founded in 1986, remains more constructive on precious metals prices over the next several months and believes silver could rise sharply after the current weakness.
Source: Kitco - https://www.kitco.com/opinion/2026-10-16/why-silver-falling-faster-gold-what-it-means-next-surge