Gold prices tumbled to their one-year low in October, marking their worst monthly performance in years. Silver and platinum also saw significant declines over the past one month amid rising geopolitical uncertainty, crude oil price volatility and inflation concerns.
As November begins, let’s take a closer look at how gold, silver and platinum performed in October, and which metal was the worst hit in the month.
Gold price today
International gold prices fell to their one-year low levels amid rising energy prices and persistent inflation concerns. International gold price fell below $ 3,900 per ounce on Friday, October 30, as per Trading Economics data.
Silver price today
Mirroring the weakness across the precious metals market, silver prices also saw sharp declines. The white metal plunged below $ 50 an ounce for the first time since November 2025. The sharp dip in the precious metal came as investors assessed growing expectations of elevated US interest rates for longer duration.
Platinum
Platinum dipped below $ 1,500 per ounce and reached its lowest since September 2025 on Friday, as per Trading Economics data. The weakness in the precious metal came as investment outlaws and weaker demand outlook weighed on investors sentiment.
Out of the three precious metals, silver saw the worst monthly decline in October of 19.17%, as per Trading Economics data, followed by platinum which declined 16.65% on a monthly basis. Gold declined 7.23% on a monthly basis. On a yearly basis, platinum remained as the biggest loser with 8% decline.
Gold-silver ratio climbs to highest since December
The recent sell-off in the precious metals market has again changed the gold-silver ratio, which has climbed to the highest level since December. It means that now it takes more ounces of silver to purchase the same measure of gold.
“The divergence underscores silver’s continued vulnerability relative to gold, which continues to attract demand from investors less sensitive to interest-rate developments,” Bloomberg quoted Ole Hansen of Saxo Bank.
