Lates News

On October 30, spot gold and silver prices fell sharply. Spot gold broke below the $3,900 mark, dropping to $3,897.48/oz, down 3.08% intraday; spot silver fell 5.90% intraday to $49.09/oz, breaking below the $50 mark. Platinum fell 4.22% to $1,425.20/oz. Foreign media analysis noted that the Fed on Wednesday held rates steady at 3.75% to 4.00% by a 10-2 vote, but two officials advocated an immediate rate hike. U.S. third-quarter GDP grew 3.4%, and the personal consumption expenditures (PCE) inflation rate reached 3.6%, further reinforcing market expectations for a Fed rate hike in December. Notably, this round of gold and silver selling was not driven by a stronger dollar or rising U.S. Treasury yields. On the day, both the dollar and Treasury yields pulled back, and after the tech stock selloff, funds shifted toward the bond market. The contrarian plunge in gold and silver suggests the market may be experiencing a liquidity-driven selloff, with investors forced to liquidate highly liquid precious metal assets to offset losses in other assets. Meanwhile, the gold-to-silver ratio rose to 79.4, reflecting that silver's decline was notably stronger than gold's.