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Gold and silver prices drop sharply amid Middle East tensions and Fed rate hike fears.

Market News
23 Oct 2026
Kitco
View Source
Bearish
Gold and silver prices drop sharply amid Middle East tensions and Fed rate hike fears.

Gold and silver prices fell sharply in early U.S. trading due to renewed Middle East tensions pushing oil prices higher and reinforcing expectations of continued Federal Reserve rate hikes. Despite geopolitical risks, gold failed to attract safe-haven demand, while silver faced extra pressure from concerns about industrial activity and borrowing costs. The market remains focused on persistent inflation and potential further monetary tightening, with key economic data and Fed decisions awaited next week. Rising crude prices and inflation worries limit gold's traditional safe-haven appeal amid geopolitical uncertainty.

Gold price movements and related market trends provide context for Pluang's trading activity as of Oct 23, 2026 19:11 WIB. Among 150 US stocks priced on Pluang, 38 rose and 109 fell today, indicating broad market weakness. Notable movers include Nike Inc (NKE) at USD 37.65 with a 1-day change of -1.75% and a Pluang order activity skewed 91% Sell / 9% Buy.

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