Gold price slumps to one-year low, silver price breaks $50 as mining stocks tank
Bullion is headed for its worst October since 2008, dragging down gold and silver producers as much as 8% on Friday.
Gold prices hit a one-year low Friday, while silver reached a new low of $49.34 an ounce, marking its first time under $50 since November 2025. Rising oil prices fuel concerns about inflation, leading investors to sell metals to cover losses in other sectors, dragging mining stocks down as much as 8%. The precious metals industry has seen a decline of nearly $140 billion in market value for the top five gold and silver producers since this year's high, with significant drops in Newmont, Agnico Eagle Mines, and Barrick Mining.
Despite expectations of a recovery, physical buyers have not yet stepped in, and demand in key markets like India and China remains subdued.
Written by urgent.news from Mining.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Gold hits one-year low, silver slips below $50 as inflation fears bite timesofindia.indiatimes.com
