Silver price crash deepens as Oct losses hit ₹45,000/kg; gold falls to 7-month low: Why are precious metals sinking? - Livemint

AI desk brief

Silver’s October slump deepened on MCX, with the December contract down another ₹10,577/kg to a low of ₹1,79,600/kg and on track for its biggest monthly fall of 2026, while gold extended a third straight session lower to ₹1,38,249/10g, the weakest since late March. Silver has now lost nearly ₹45,000/kg this month and more than 57% from its record high of ₹4,20,048/kg; gold is down ₹10,787/10g in October and ₹42,321/10g from its peak.

The article ties the correction to higher crude prices, sticky inflation and firmer expectations for prolonged US rates, with September US PCE up 0.5% m/m and 3.6% y/y, core PCE at 3.1%, and Q3 US GDP at a 3.4% annualised pace. Traders are pricing about a 75% chance of a December Fed hike, while ongoing Middle East tensions and tanker attacks keep energy prices elevated and reinforce the case for tighter policy, weighing on non-yielding metals.