Gold, silver lose sheen – The Hindu

Precious metals lost sheen last month too with both gold and silver clocking negative returns for the second consecutive month. The rise in crude oil price and concerns over rising inflation and potential hike in U.S. interest rates played a key role in denting precious metals sentiment.

As a result, Comex gold closed 7.26% lower to settle at $3,884.9/ ounce by October end. Comex silver suffered a much steeper cut of 19.1% last month to settle at $49.13/ ounce.