{"id":19786,"date":"2026-11-03T18:25:43","date_gmt":"2026-11-03T15:25:43","guid":{"rendered":"https:\/\/novitera.lt\/?post_type=izvalgos&p=19786"},"modified":"2026-11-03T18:31:43","modified_gmt":"2026-11-03T15:31:43","slug":"market-overview-28-10-2026-to-03-11-2026","status":"publish","type":"izvalgos","link":"https:\/\/novitera.lt\/en\/insights\/market-overview-28-10-2026-to-03-11-2026\/","title":{"rendered":"Market Overview 28-10-2026 to 03-11-2026"},"content":{"rendered":"\n

November 3, 2026<\/p>\n\n\n\n

Market Overview 28-10-2026 to 03-11-2026<\/h2>\n\n\n\n

Precious Metals Face Another Price Decline!<\/strong><\/p>\n\n\n\n

Last week, downward price trends continued to dominate the precious metals markets. They were driven by the likelihood of further US interest rate hikes, tensions and escalation in the Middle East, and the decline in US technology stocks.<\/p>\n\n\n\n

The global gold price fell by more than 4% between October 28 and November 3, reaching USD 3,904 per troy ounce.<\/p>\n\n\n

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The decline in gold prices is undoubtedly being driven by the Middle East crisis and its impact on central banks’ interest rate policies. As the US\u2013Iran war continues, reports have emerged of US strikes on Iran’s Qeshm Island<\/a>. Iran’s Islamic Revolutionary Guard Corps reports that three commercial tankers exploded after attempting to cross the Strait of Hormuz without Iran’s permission and striking naval mines<\/a>.<\/p>\n\n\n\n

The tense situation in the Middle East is contributing to the persistence of extremely high oil prices<\/a>, rising prices across various markets and concerns about a possible global recession. These factors are prompting central banks to increasingly initiate interest rate hikes. In the United States, the Fed raised interest rates for the first time this year back in September<\/a>. According to market data, the probability that the Fed’s next interest rate hike will be approved in December has recently been estimated at as much as 76%<\/a>.<\/p>\n\n\n\n

If this scenario materialises, rising US interest rates will contribute to further increases in domestic bond yields. As a result, precious metals, as an asset class that does not generate fixed income, will face significant investment competition from bonds. It is also likely that an increase in Fed interest rates will strengthen the US dollar. In that case, dollar-denominated precious metals will become a less attractive option for holders of foreign currencies.<\/p>\n\n\n\n

Between October 28 and November 3, the global silver price fell by more than 9.3%, reaching USD 48.97 per troy ounce.<\/p>\n\n\n

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It is likely that the record decline in silver prices was driven not only by the real possibility of Fed interest rate hikes but also by losses in US technology stocks. Reports indicate that concerns and doubts about the future of the AI sector led to a decline of more than 5.8% in the Nasdaq-100 index<\/a> during October. This stock index comprises 100 of the largest non-financial companies listed on the US Nasdaq stock exchange. Its losses clearly demonstrate that, amid uncertain market conditions, investors are becoming increasingly pessimistic about the growth prospects of the US technology sector.<\/p>\n\n\n\n

According to Commerzbank analysts, the sharp stock market decline may have triggered forced sales<\/a> of other investment assets, including precious metals. As investors faced additional margin requirements or sought to cover losses in the stock market, some capital may have been withdrawn even from assets considered safe investment choices. On the other hand, Commerzbank analysts also emphasise that, in their view, the decline in precious metal prices has been excessive, and they continue to expect a recovery<\/a>.<\/p>\n\n\n\n

The global palladium price fell by more than 7.2% between October 28 and November 3, reaching USD 942 per troy ounce.<\/p>\n\n\n

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The global platinum price fell by 7.5% over the same period, reaching USD 1,425 per troy ounce.<\/p>\n\n\n

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The global copper price fell by more than 3.7% between October 28 and November 3, reaching USD 13,951 per tonne.<\/p>\n\n\n

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