Global Gold Prices Drop to One-Year Low

Deep News10-31 09:00

Driven by rising international crude oil prices, intensifying U.S. inflation pressures, and growing market expectations for further Federal Reserve rate hikes, international gold prices fell to a one-year low on October 30.

At the close, gold futures for December delivery on the New York Mercantile Exchange settled at $3,898.9 per ounce, down 3.29%. Silver futures for December delivery closed at $49.276 per ounce, down 5.93%. This marked the first time silver futures prices fell below the $50 per ounce threshold since November 2025.

International Oil Prices Rise on October 30

On October 30 local time, an attack on an oil tanker in the Strait of Hormuz escalated crude supply risks and pushed international oil prices higher, with Brent crude hitting a six-month high. At the close, light crude oil futures for December delivery on the New York Mercantile Exchange settled at $104.12 per barrel, up 2.08%. London Brent crude oil futures for December delivery settled at $117.64 per barrel, up 2.4%.

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