# Silver and gold hit 7- and 2-month lows

> Silver crashes to 7-month low as Middle East tensions boost oil prices and Fed rate hike expectations.
- Title: Silver and gold hit 7- and 2-month lows · mint | Shortify
- Summary: Silver crashes to 7-month low as Middle East tensions boost oil prices and Fed rate hike expectations. Silver fell ₹8,593/kg to a seven-month low on MCX…
- Keywords: silver, gold, mcx, oil prices, fed rate hikes, middle east tensions, precious metals, news, india, hit, 2-month, lows
- Source: mint — https://livemint.com/market/stock-market-news/silver-crashes-rs-8-590-per-kilo-to-7-month-low-gold-hits-2-month-low-what-s-driving-the-selloff-in-precious-metals-11792676479559.html
- Author: A Ksheerasagar
- Published: 2026-10-22T14:54:14+00:00
- Read time: 1 min
- Topics: silver, gold, mcx, oil prices, fed rate hikes, middle east tensions, precious metals, news, india
## Silver hits 7-month low
Silver fell ₹8,593 per kilogram to a seven-month low of ₹2,00,575 on MCX.

> Silver fell ₹ 8,593 per kilogram to ₹ 2,00,575 on MCX
## Gold drops to 2-month low
Gold declined ₹2,300 per 10 grams to ₹1,43,600, its lowest level in two months.

> Gold prices also fell, with MCX gold declining ₹ 2,300 per 10 grams to ₹ 1,43,600
## Middle East tensions rise
Deadly attacks in Saudi Arabia heightened concerns over energy flows from the region.

> The crash in precious metals coincided with a rise in crude oil prices, as deadly attacks in Saudi Arabia heightened concerns over the impact on energy flows from the region
## Oil prices surge
Brent crude rose 3.3% to $112.38 a barrel after touching its highest level in five months.

> Brent crude rose 3.3% to $112.38 a barrel after touching its highest level in five months
## Fed rate hike expectations
Traders price in 86% likelihood of a December Fed rate hike amid elevated inflation and energy costs.

> Traders are pricing in an 86% likelihood of a rate increase in December
## US President Trump's comments
Trump played down oil price concerns, saying the conflict would end after midterm elections.

> Last month, US President Donald Trump played down concerns about oil prices and the war, saying the conflict would end after the midterm elections
## What drives the selloff
Rising Middle East tensions lifted oil prices and increased expectations of further US Federal Reserve rate hikes.

> Rising Middle East tensions lifted oil prices and increased expectations of further US Federal Reserve rate hikes
## Key takeaway

Silver fell ₹8,593/kg to a seven-month low on MCX while gold dropped to a two-month low amid Middle East tensions and rising oil prices.