Silver crashes ₹56000/kg from August peak; gold slides 23000/10 grams. What’s driving the selloff in precious metals - Livemint

AI desk brief

Silver extended its October rout, falling ₹6,800/kg to ₹1,92,800, its lowest since December 2025, while MCX gold slipped 0.29% to around ₹1.40 lakh/10 grams, near a three-month low. Both metals are on track for a second straight monthly decline as hotter US CPI/PPI, elevated crude, and rising bond yields keep the market focused on tighter Fed policy and higher opportunity costs for non-yielding assets.

The article says Brent crude moved toward $115/bbl and that Middle East supply risks remain elevated, but the inflation impulse has dominated for now: CME FedWatch puts an October hike at 9% and a December hike at 81%. Traders are awaiting the Fed meeting next week and the US PCE release on Oct. 29, which should determine whether bullion can stabilize or extend losses further.