Gold rate, silver price today: Why is gold price down today? When will gold recover from its worst trading - The Economic Times

AI desk brief

Gold and silver sold off as higher oil prices and stickier inflation reinforced expectations of further Fed tightening. Spot gold fell 1% to $3,980.40/oz and December futures slid 1% to $3,991.10/oz, while silver dropped 3.6% to $50.50/oz; platinum eased 3% to $1,443.69/oz and palladium fell 2.5% to $981.31/oz. Gold is down 4.3% for October and hit its lowest since July 17, with the move also reflecting stronger-than-expected US GDP and a hotter September inflation print.