Gold Slides to 13-Month Low as Rising Energy Prices Weigh on Markets

30/10/2026

Gold Slides to 13-Month Low as Rising Energy Prices Weigh on Markets

LONDON, Oct 30: Gold prices fell below $3,900 an ounce on Friday, hitting their lowest level in 13 months as persistently high global energy prices continued to weigh on precious metals.

Spot gold was trading at $3,880 an ounce at 1750 GMT, down 3.5% on the day. The precious metal has lost 7.14% over the past month and 10.19% over the past year.

Silver also came under heavy pressure, falling 6% to $49 an ounce, taking its year-on-year decline to 31.1%.

Meanwhile, energy prices remained elevated. Brent crude futures climbed 2.7% to $113.70 a barrel after briefly crossing $117 earlier this week, reaching their highest level since July.

European natural gas prices stood at €103.50 ($115.40) per megawatt-hour, hovering near their highest levels since late 2022.