Gold prices tumbled to their one-year low in October, marking their worst monthly performance in years. Silver and platinum also saw significant declines over the past one month amid rising geopolitical uncertainty, crude oil price volatility and inflation concerns.
As November begins, let’s take a closer look at how gold, silver and platinum performed in October, and which metal was the worst hit in the month.
International gold prices fell to their one-year low levels amid rising energy prices and persistent inflation concerns. International gold price fell below $ 3,900 per ounce on Friday, October 30, as per Trading Economics data.
Mirroring the weakness across the precious metals market, silver prices also saw sharp declines. The white metal plunged below $ 50 an ounce for the first time since November 2025. The sharp dip in the precious metal came as investors assessed growing expectations of elevated US interest rates for longer duration.
Platinum dipped below $ 1,500 per ounce and reached its lowest since September 2025 on Friday, as per Trading Economics data. The weakness in the precious metal came as investment outlaws and weaker demand outlook weighed on investors sentiment.