Comex Gold Ends the Month 6.49% Lower at $3885.70
A facts-only brief, written by a local AI model from this article in The Wall Street Journal, October 30, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.
Front-month Comex gold futures for November delivery closed the month at $3,885.70 per troy ounce, marking a 6.49% decline that represents the largest one-month percentage drop since June 2026. Silver futures for the same delivery month ended at $49.097, falling 18.31% to record their steepest monthly percentage loss since June 2011. Both metals posted their lowest settlement values since late 2025, with gold sitting 26.94% below its record high of $5,318.40 set in January 2026.
Background
- Rising oil prices and persistent inflation have fueled expectations that the Federal Reserve will implement further interest rate hikes, with traders pricing in a 74% probability of a December increase.
- Bas Kooijman of DHF Capital noted that tighter monetary policy expectations and firm oil prices are compounding pressure on non-yielding assets.
- Thadeu Dos Santos of Infinox stated that strong U.S. economic data and a firm dollar are supporting bond yields, which typically weigh on gold prices.
- Saxo analysts warned that a continuing selloff in technology stocks could trigger broader deleveraging and liquidity-driven selling across precious metal markets.
Read the full article at wsj.com
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