Gold price prediction: Gold rate closes October on 1-year low, what to expect in November, December? - The Economic Times

AI desk brief

Gold fell to a one-year low as the tech selloff triggered broader risk liquidation and margin-call pressure, with spot gold down 3.63% at $3,874.58/oz and December gold futures settling 3.3% lower at $3,898.90/oz. Silver broke below $50/oz for the first time since November 2025, while platinum and palladium also sold off hard, with palladium slipping below $1,000/oz and both metals described as technically oversold.

The move reflects a combination of higher-for-longer rate expectations, persistent inflation worries, stronger U.S. growth data, and weaker physical demand in Asia. Commerzbank said forced selling from the equity correction may have hit safe-haven metals, but expects a recovery ahead; analysts also noted central bank buying tends to strengthen when gold dips below $4,000/oz.