October Gold News 2023

The gold rally continues to gain pace, as geopolitical and fiscal events drive safe haven buying. Gold has so far hit a peak of £1,647 per ounce, and the UK record of £1,659.59 is now well within reach of the metal and could be broken today at the current pace.

The recent rally in gold and silver prices has only gained pace, with last week in particular seeing some exceptional gains for both metals.

After last week's price dip, gold and silver opened sharply higher this week as markets reacted to the surprise Hamas attack in Israel. With Israel declaring war on Hamas, the region faces further conflict that could have wide-reaching implications around the world.

The recent fall in gold and silver prices has shown no signs of stopping this week as the dollar continues to strengthen. Both metals have fallen to near seven-month lows today in USD and lower prices are sparking some opportunity buying from investors.