The Marked Chart Wire · Series of events
Series of events · Gold
Gold falls to lowest level since August
Gold prices declined over three weeks while central bank buying data was released.
Updated
The flow in 3 points
- Gold hit a low of $4,091.20 in early October
- Central banks bought 79 tonnes of gold in August
- Gold fell to $3,908.13 by late October
What happened, in order
Times are Eastern-
Where it began
Dollar strength hits gold
Gold fell to $4,091.20, its lowest level since August 3, while silver dropped to $59.23 as a stronger dollar pressured the metals.
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Central bank buying data
Goldman Sachs estimates central banks purchased 79 tonnes of gold in August, far exceeding the 17-tonne monthly average seen before 2022.
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Turning point
Gold breaks $4,000
Spot gold fell 1.05 percent to $3,982.19 per ounce as Brent crude hit $115.16, with MUFG saying investors sold gold to cover losses.
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Latest
Decline continues
Gold prices continued their decline, dropping 3 percent to reach $3,908.13 per ounce.
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How they connect
Gold fell to a low level in early October, followed by reports of high central bank buying. The price then dropped below $4,000 and continued to decline.
A series is a short summary of connected news, for learning. Not verified and not advice. Check the full stories before you act.