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Business
Gold Slides to One-Year Low as Tech Stocks Decline
✍️ Reuters
🗓 31 Oct 2026, 05:55 AM
👁 17
Gold prices fell to a one-year low on Thursday as a sharp sell‑off in technology shares pushed risk sentiment lower, sending the metal into a prolonged decline.
Gold fell to a one‑year low on Thursday, trading at $1,965.30 an ounce, a drop of 1.2% from the previous close. The decline was driven by a sudden sell‑off in U.S. technology shares, which lifted volatility and pushed investors toward safer assets.
The metal’s decline was accompanied by a steep fall in white metals such as silver, palladium and platinum, all of which entered deep oversold territory. Silver fell 2.4% to $24.80 an ounce, while palladium and platinum dropped 3.1% and 2.8% respectively.
Analysts noted that the tech rout has increased risk aversion, prompting a shift away from commodities that are often seen as speculative. The gold market remains sensitive to equity volatility, and the recent sell‑off has left the metal in a fragile position.
Market participants will be watching the next earnings season closely, as any further tech weakness could keep gold on a downward trajectory, while a rebound in equities may support a recovery in metal prices.
The metal’s decline was accompanied by a steep fall in white metals such as silver, palladium and platinum, all of which entered deep oversold territory. Silver fell 2.4% to $24.80 an ounce, while palladium and platinum dropped 3.1% and 2.8% respectively.
Analysts noted that the tech rout has increased risk aversion, prompting a shift away from commodities that are often seen as speculative. The gold market remains sensitive to equity volatility, and the recent sell‑off has left the metal in a fragile position.
Market participants will be watching the next earnings season closely, as any further tech weakness could keep gold on a downward trajectory, while a rebound in equities may support a recovery in metal prices.