Gold October 2026: DAX and Nasdaq Fall — Precious Metals Rise at the End of the Week
October 10, 2026
Friday, October 10, 2026 — the markets provide a clear picture. While three of the world's most important stock indices fall, gold and silver rise simultaneously and significantly. What seems like a side note on a single trading day describes a structural sentiment: investors are reducing their equity risk and seeking value preservation in precious metals.
The DAX loses 1.18 percent on October 10 and closes at 24,807 points. This makes Germany's benchmark index the weakest among the major Western markets. The difference becomes particularly clear in the 30-day comparison: minus 5.9 percent for the DAX compared to a significant plus for the Nasdaq 100.
The S&P 500 drops 0.47 percent to 7,765 points. The Nasdaq 100 loses 1.39 percent to 30,726 points — but is still up 5.1 percent on a 30-day basis. The MSCI World declines by 0.38 percent.
| Index | Level (10.10.2026) | Daily Change | 30 Days |
|---|---|---|---|
| DAX | 24,807 points | −1.18 % | −5.9 % |
| S&P 500 | 7,765 points | −0.47 % | positive |
| Nasdaq 100 | 30,726 points | −1.39 % | +5.1 % |
| MSCI World | — | −0.38 % | slightly negative |
While the stock markets decline, both precious metals rise. Gold gains 1.63 percent and reaches 4,225 US dollars per troy ounce. In a 7-day comparison, that is plus 0.91 percent — gold ends the week stronger than it started.
Silver exceeds gold's pace: plus 2.66 percent to 60.63 US dollars per ounce. On a 7-day basis, silver stands at plus 0.89 percent. The gold-silver ratio is around 70 — for every ounce of gold, you currently need around seventy ounces of silver.
| Precious Metal | Price (10.10.2026) | Daily Change | 7 Days |
|---|---|---|---|
| Gold | 4,225 USD/oz | +1.63 % | +0.91 % |
| Silver | 60.63 USD/oz | +2.66 % | +0.89 % |
The DAX falls more sharply than the S&P 500 and Nasdaq — this is no coincidence. In 2026, Germany is struggling with a combination of industrial dependence, weak export demand, and structural energy costs. Those invested in German equity ETFs feel the gap to the US market directly in their portfolios.
The 30-day performance tells the story more clearly than the daily value: DAX minus 5.9 percent, Nasdaq plus 5.1 percent. These are structurally different economies moving in opposite directions in October 2026.
When stocks fall and gold rises at the same time, market participants speak of risk-off: the market sells risky assets and buys safe ones. Gold has no counterparty, no maturity, and is not dependent on any central bank policy. Silver combines industrial demand and a safe-haven function — therefore, it often reacts with a larger move than gold.
Further assessments on gold as a hedge can be found in our article Giga-Crash 2027: These 5 Warning Signals. A single trading day is not a trend. But when gold and silver rise on a day when stock indices worldwide decline, it is a measurable signal of capital reallocation — away from equity, toward value preservation.
In risk-off movements, capital flows from stocks into classic safe havens. Gold is considered a store of value without counterparty risk. Silver additionally benefits from industrial demand, which runs independently of stock movements.
The ratio shows how many ounces of silver are needed to buy one ounce of gold. At 70, it is in the historical average range. Historically, lower values are seen as a sign of relative strength of silver compared to gold.
Germany is more dependent on industrial production than the USA. Weak export demand and economic uncertainty in Europe weigh disproportionately on the DAX. US tech stocks in the Nasdaq have a decoupled earnings dynamic.
Legal Notice: This article is for informational purposes only and does not constitute investment advice. All information is provided without guarantee. Investments in precious metals and securities involve risks. Please consult an independent financial advisor before making investment decisions.
