Gold closes its worst October since 2008 at $3,875; being 30%+ below the high means a 43%+ rally just to get back to even
Gold closed Friday at $3,875 an ounce, its worst October since 2008, as investors sold it to cover margin calls.
That's more than 30% below its all-time high, and down 30% means you need a 43% rally just to break even. Turns out the safe haven is whatever you can sell fastest.
https://www.kitco.com/news/article/2026-10-30/gold-prices-plunge-one-year-low-below-3900-higher-oil-prices-fuel-fears
Sources: BeInCrypto via MetaTrader: gold ended its worst October since 2008 at $3,875, down 3.6% in the final session · XTB: worst October for gold since 2008 as investors sell what is most liquid to meet margin calls · Benzinga: gold ends the week at $3,875, more than 30% below its all-time high; GLD saw $1.4B of October outflows · @KobeissiLetter: GLD recorded -$1.8B of outflows in October, its biggest monthly withdrawal since June
Not financial advice. For informational and educational purposes only.
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