Gold Falls 3.65% to $3,874.76/oz; October Loss 6.80%

The scale of the move matters more than the level: silver's monthly decline is far steeper than gold's, and the equity index tracking the miners fell harder still, showing the selloff amplified down the risk curve rather than confined to bullion. That pattern points to de-risking across the precious-metals complex, not a single-asset repricing. The open question is whether the miners' deeper drawdown keeps leading the metals or lags them into any stabilization.