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Oct 27, 2026 6 min read

Why Gold Is Falling in October 2026: Below $4,000 After a $5,400 Record

Gold touched a three-month low of $3,975 on 23 October 2026 and closed its worst week in over four months, down about 4%, having set its record close near $5,405 in January. 'Why is gold falling' is the most searched gold question this week, and the answer is not one thing: oil above $110 lifted inflation expectations, that kept a December Fed hike priced and Treasury yields near 5%, the dollar firmed, and a tech selloff added forced selling. This guide sets out the drivers, what is still supporting the metal, the levels, and how to trade a pullback inside a bull market.

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