Precious metals ended October with fresh losses, led by palladium and silver, as futures and commodities markets expert Zafer Ergezen cited inflation, interest-rate and growth concerns, Anadolu Agency reported Monday.
Anadolu Agency put palladium’s monthly fall at 19.1%, the largest among the four metals. It said the metal dipped below $1,000 an ounce for the first time since June 2025. Silver slid 18.8% to $49.1 an ounce, while platinum declined 16.2% to $1,434.
Gold fell 6.8% to $3,876 after a 6.6% decline in September. It ended below $4,000 for the first time since July. The four metals recorded losses for a second month in a row, Anadolu reported.
Separate price series showed similar rankings but different loss sizes. Trading Economics’ rolling one-month measure through Oct. 30 showed silver down 19.17%, platinum down 16.65% and gold down 7.23%. Precious Metals International’s New York month-end series showed respective declines of 18.46%, 16.22% and 6.47%. An earlier EconoTimes comparison of October metals prices covered those two series.
Ergezen said high energy prices were raising inflation expectations and strengthening expectations for higher interest rates. He told Anadolu that investors were favoring cash and interest-bearing returns over metals, drawing demand away from the sector.
He also pointed to lower global growth forecasts from the International Monetary Fund (IMF) and the World Bank. Slower growth could weaken silver demand because the metal has broader industrial uses than gold, he said. Growth concerns weighed more heavily on platinum and palladium in his assessment. Ergezen also cited rising electric-vehicle demand and strong supply as factors pressuring those two metals.
