
Gold Posts Steepest Monthly Loss in Years, Closing October at 1-Year Low
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Gold closed October 2026 down 6.8% for the month, its steepest monthly decline in years, driven by four converging factors: a Fed rate-hike signal, surging crude oil prices, an AI-linked Wall Street sell-off, and strong U.S. economic data. Silver broke below $50 for the first time since November 2025. UBS projects gold at $5,000 or higher if the Fed pivots, while markets price a 74–85% chance of a December rate hike.
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