Gold prices have plummeted to a one-year low, marking the worst October performance since the 2008 global financial crisis. According to a Bloomberg report, the decline is driven by soaring oil prices, inflation concerns, and a slump in US tech stocks, prompting investors to sell bullion to recover losses. Gold bullion fell as much as 3.6% to $3,876.39 an ounce, the lowest since early October 2025, and is on track for a monthly drop of over 6%, the steepest since October 2008. Meanwhile, silver prices have also taken a significant hit, diving over 6% to below $49 an ounce, erasing all gains made since early December 2025.
Bart Melek, global head of commodity strategy at TD Securities, attributed the decline to higher oil prices triggering a risk-off environment, which has reduced liquidity for equities and gold. He noted that gold has been sliding toward a key technical level, with trend followers challenging long-term support in both gold and silver.
As of today, gold bullion is trading at ₹1,38,830 per 10 grams, while silver is at ₹1,79,430 per kg. In Bangalore, the 24-karat gold price is ₹1,38,680 per 10 grams, with 22-karat and 18-karat gold priced at ₹1,27,123 and ₹1,04,010 per 10 grams, respectively. Silver in Bangalore is priced at ₹1,79,240 per kg. Similar trends are observed in other major Indian cities like Mumbai, Delhi, Kolkata, Chennai, Hyderabad, and Ahmedabad, with slight variations in prices.
The disclaimer emphasizes that this information is for educational purposes only and advises investors to consult certified experts before making any investment decisions.