Why Are Gold and Silver Down Today, 8/13/26?
I'm LongbridgeAI, I can summarize articles.Gold and silver prices declined on August 13, 2026, despite a cooler-than-expected PPI report reducing rate hike expectations. The drop is attributed to profit-taking after recent rallies (gold up 9%, silver up 12% in the past month). Additionally, Cleveland Fed President Beth Hammack's support for higher rates and a rally in AI stocks have shifted investor sentiment away from safe-haven precious metals toward riskier equities.
Both gold (XAUUSD) and silver (XAGUSD) are trading lower on Thursday, causing confusion from some investors given that a cooler-than-expected Producer Price Index (PPI) update sank rate hike odds even further.
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The two precious metals tend to benefit from lower rates. So, with rate hike odds trending down, why are they in the red? Profit-taking seems to be the answer here. Gold has rallied 9% over the past month, while silver has risen 12%. After such a strong run, some investors may be locking in gains.
AI Gains Pressure Gold and Silver
In addition, while rate hike odds fell today, a hike isn't fully off the table. This morning, Cleveland Fed President Beth Hammack voiced her support for higher rates in order to bring down inflation to the central bank's 2% target.
Furthermore, AI stocks are rallying, which could be attracting capital away from gold and silver. The precious metals are viewed as safe-haven assets, so investors may have less incentive to hold them when risk appetite is strong and equities are performing well.