Gold Falls 6.3% in September as Silver Slides 9.2%

The pullback is notable less for its size than for its breadth: both metals cooled in tandem after a sharp run higher, and the futures market tracked spot almost tick for tick, suggesting macro positioning rather than any single physical-market shock drove the move. That matters for RWA and tokenized-metal products, where recent inflows have leaned on the same momentum now unwinding. Whether the retreat deepens into a broader repricing or merely consolidates the prior advance is the open question, with the size and speed of the next monthly print the clearest signal.