Gold, silver lose sheen - The Hindu

AI desk brief

Gold and silver extended their slide for a second straight month, with Comex gold down 7.26% in October to $3,884.9/oz and silver falling 19.1% to $49.13/oz. The article pins the weakness on higher crude oil, renewed inflation concerns, and expectations of a potential U.S. rate hike, and says both metals are likely to drift lower until resistance is broken.

The setup is near-term bearish for precious metals as the macro mix points to firmer inflation/rates pressure and weaker sentiment. The piece does not give a specific resistance level, but it clearly frames the path of least resistance as lower unless the market can reclaim that technical ceiling.