Gold falls 2.8%, silver 5.8% as inflation fears erase $1T in metals value

The selloff occurred 2026-10-23 amid rising oil prices and shifting expectations for Federal Reserve policy.

Priya Anand

Markets Analyst

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Stands on 3 placed sources from 2 publishers.

As of 2026-10-23 14:11 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.

Gold fell 2.8% and silver fell 5.8% on 2026-10-23, wiping an estimated $1 trillion in combined market value from the two precious metals ^[1].