Economist Thorsten Polleit did not complicate his latest view on precious metals.
“Buy gold and silver,” he wrote on October 25.
The message is only four words long, but it comes at an interesting time. Gold has just suffered one of its worst weeks in months, silver is trading near its 2026 lows, and both metals are heading into a Federal Reserve meeting that could set the tone for the next move.
Polleit is not simply a social-media commentator. He worked as an economist for a large investment bank from 2000 to 2012 and later spent 12 years with an international precious-metals trading house. He is also an honorary professor of economics at the University of Bayreuth and has written extensively about monetary systems, capital markets and gold.
Why His Call Comes at an Interesting Time
Gold is trading back above $4,000 today after falling to roughly $3,975 on Friday, its weakest level since July 20. Spot gold was near $4,008-$4,015 during Monday trading as lower oil prices eased some inflation fears.
Silver remains much weaker.
XAG/USD is near $54 after a brutal correction, with Friday’s close around $53.90. Silver is down about 25% year to date and roughly 5.4% over the past week.
That means Polleit is telling investors to buy after a large reset rather than after the earlier highs.
The macro setup is still difficult, though.
Buy gold and silver.
— Thorsten Polleit (@ThorstenPolleit) October 25, 2026
The Federal Reserve is expected to leave rates unchanged on October 28, but markets are still pricing a high probability of another rate increase in December. Higher rates and a strong dollar can keep pressure on both gold and silver.
Oil is another variable. Brent has eased from last week’s highs, which helps metals by reducing some inflation anxiety, but energy prices remain elevated.
Read also: Could Lab-Grown Gold Crash Prices Like Lab-Grown Diamonds Did?
My Take
I think Polleit’s call makes more sense now than it would have near the top of the 2026 rally.
Gold has already corrected heavily, and silver has fallen even further.
That does not mean either metal has bottomed.
Gold still needs to prove it can hold above $4,000, while silver is vulnerable if the $53-$50 area fails.
But for longer-term investors, the current prices are much more interesting than they were several months ago.
I would still prefer gradual accumulation over chasing one large entry, especially with the Fed decision only days away.
Polleit’s message is simple.
The market setup is not.
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