Business · Energy & Commodities · 1 hr ago
Gold Hits One-Year Low as Silver Falls Below $50 an Ounce
Gold and silver prices fell sharply on Oct.
30 in international markets.
Gold futures settled at $3,898.90 an ounce, their lowest level in a year, while silver futures dropped 5.93% to $49.276.
Silver fell below $50 an ounce for the first time since November 2025.
Oil prices rose after a tanker was attacked in the Strait of Hormuz, raising concerns about supply.
Higher oil prices added to fears of rising inflation, which strengthened expectations that the US Federal Reserve may raise interest rates further.
Those rate expectations weighed on precious metals, which do not pay interest.
The sources give no forecast for when prices might recover or what the Federal Reserve will do next.
Gold prices fell to their lowest level in a year on October 30, while silver dropped below $50 an ounce for the first time since November 2025.
The declines came as oil prices rose and inflation concerns fueled expectations of further U.S. interest-rate increases.
New York December gold futures closed at $3,898.90 an ounce, down 3.29%, according to China News Service.
December silver futures closed at $49.276 an ounce, down 5.93%, according to China News Service.
Okaz reported spot gold at $3,910.53 an ounce and silver at $49.34 an ounce.
- Who
- Gold and silver markets.
- What
- Gold fell to a one-year low, and silver dropped below $50 an ounce.
- When
- October 30, 2026.
- Where
- International markets; the reports cited New York futures prices and spot prices.
- Why
- Rising oil prices and inflation concerns strengthened expectations of further U.S. interest-rate increases.
This story does not have two clearly opposing sides.
International oil prices rose amid increased supply risks after tankers were attacked in the Strait of Hormuz.
Gold and silver prices fell, with silver futures closing below $50 an ounce.
China News Service published its report on the price declines.
- New York December gold futures
- $3,898.90 an ounce; down 3.29%
- New York December silver futures
- $49.276 an ounce; down 5.93%
- Okaz spot gold
- $3,910.53 an ounce; down 2.7%
- Okaz spot silver
- $49.34 an ounce; down 5.8%
- Brent crude
- $117.64 a barrel; up 2.4%