Gold falls to more than one-year low below $3,900 as oil and inflation weigh on prices

FinanceInternationalKitcoOct 30, 2026, 1:18 PM40 s readAI summary

Gold broke convincingly below $4,000 an ounce and hit its lowest level since October 6, 2025, when it touched an intraday low of $3,884.61. Spot gold traded at $3,880, down 3.5% on the day and nearly 3% on the week. Silver fell below $50 and posted its worst week since early June. Analysts attribute the selling pressure to higher oil prices driven by the war with Iran and to expectations of Federal Reserve rate hikes.

In 40 seconds

Spot gold traded at $3,880 an ounce, down 3.5% on the day and nearly 3% on the week
Silver fell to $48.95, down 6% on the day and nearly 9% on the week, its worst since early June
Analysts say elevated oil prices from the war with Iran fuel inflation and keep central banks hawkish

Read the full story at Kitco

IASummary generated by artificial intelligence from a story by Kitco. It may contain errors: the original source prevails.

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Gold falls to more than one-year low below $3,900 as oil and inflation weigh on prices

In 40 seconds

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Keep reading

IMF backs economic rescue bill as Banco de la República calls for rigor in its review

Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA

President requests urgent congressional passage of fiscal adjustment bill

Oil edges lower after U.S. bombs Iran ahead of Election Day