Gold Slips to $4,030 an Ounce as Silver Falls to an 11-Month Low

According to Mehr, the gold price fell 0.93% to $4,030.06 an ounce in trading on Thursday, October 29, 2026 (7 Aban 1405), and silver dropped 2.08% to about $52.83, a level Mehr calls its lowest in 11 months. In Sahmino's record at 16:02 the same day, silver stood at $52.62 an ounce, 2.61% below the previous day.

Mehr attributes the decline to the Federal Reserve's decision to hold rates, uncertainty over the monetary path and inflation pressure from higher energy prices. Investors are awaiting the US personal consumption expenditures price index; higher rates raise the opportunity cost of holding non-yielding assets such as gold and silver. The global ounce is the reference for gold and coin prices in Tehran.