Mumbai, Oct. 31 -- Precious metals saw heavy selling on the last session of October 2026, accelerating losses after St. Louis Fed President Alberto Musalem noted that additional firming of monetary policy will be necessary soon. COMEX Gold broke under $3900 per ounce while melted near $49 per ounce. Both metals tested one-year low. Gold has lost 7% this month while silver has plunged around 18%. The latest selloff occurred despite a moderation in US treasury yields. Precious metals seem to be behaving like risky assets now as soaring crude oil prices are leading to downward pressure on the bullion complex. However, such a heavy slide has pulled down both precious metals to lowest levels in this year in domestic retail markets and an uptick ...