Correction — 22 October 2026: The earlier article called a live WTI quote a settlement and reported an incorrect 4.54% KOSPI decline. This review uses dated daily observations; the Korean observation is from October 8 and its return is minus 2.62%. This is a retrospective review using daily history retrieved on 2026-10-22, not a live report or a reconstruction of every quote available at original publication.
Compare percentage moves, not unlike price levels
Gold futures rose 1.43% and WTI futures rose 0.39% on October 9. Subtracting the two percentage changes gives a 1.04 percentage-point performance gap. Comparing the dollar price of an ounce of gold with the dollar price of a barrel of oil would not measure relative daily performance because the units and starting values differ.
Dated observations and calculations
| Series / source | Previous date | Previous value | Observation date | Value | Change | Time zone |
|---|---|---|---|---|---|---|
| KOSPI | 2026-10-07 | 6,803.90 | 2026-10-08 | 6,625.93 | -2.62% | Asia/Seoul |
| S&P 500 | 2026-10-08 | 7,765.36 | 2026-10-09 | 7,811.54 | +0.59% | America/New_York |
| Nasdaq Composite | 2026-10-08 | 27,193.34 | 2026-10-09 | 27,366.17 | +0.64% | America/New_York |
| US 10-year yield proxy (^TNX) | 2026-10-08 | 5.231 | 2026-10-09 | 5.244 | +1.3 bp | America/Chicago |
| WTI futures (CL=F) | 2026-10-08 | 91.49 | 2026-10-09 | 91.85 | +0.39% | America/New_York |
| Gold futures (GC=F) | 2026-10-08 | 4,157.00 | 2026-10-09 | 4,216.30 | +1.43% | America/New_York |
| USD/KRW (won per dollar) | 2026-10-08 | 1,339.08 | 2026-10-09 | 1,342.99 | +0.29% | Europe/London |
| USD/JPY (yen per dollar) | 2026-10-08 | 158.06 | 2026-10-09 | 158.06 | +0.00% | Europe/London |
Price performance does not reveal the buyers
The S&P 500 rose 0.59% and the Nasdaq rose 0.64% in the completed US sessions. That differs from the original mixed-time narrative of Nasdaq weakness. Gold rising alongside stocks cannot establish that investors were buying insurance against an equity decline. The earlier claim that low volatility and rising gold could not coexist for long was unsupported and is withdrawn.
Method and limits
Percentage changes use (value ÷ previous available daily value − 1) × 100, before rounding. Yield changes use the difference in percentage-point quotes multiplied by 100 to obtain basis points. Currency values are local-currency units per US dollar. Index levels are in points; futures quotes are in US dollars per barrel for WTI and per troy ounce for gold.
Each linked Yahoo Finance history is the data source for that row. These provider observations have not been independently checked against exchange settlement records. The futures series can change its referenced contract over time and should not be treated as the return on a continuously held investment. A date shared by two markets does not make their closing times simultaneous.
The earlier news-based explanations are omitted because their relevance to these measured moves was not established. For the calculation workflow and trading-session examples, see How to Read Daily Market Returns Without Mixing Trading Sessions.
