Gold prices fall to record low

On October 21, the price of December gold futures on the New York COMEX exchange fell by 4.2 percent to $4,176.4 per ounce. Shortly after, the decline deepened to 6.12 percent, bringing the price down to $4,093, the Financial Times reported.

The publication described this as the steepest single-day drop in the past 12 years.

At the beginning of the week, gold prices had reached a record high of nearly $4,400 per ounce, but the market is now undergoing a correction. Prices of silver, platinum, and palladium have also fallen by around 6–8 percent.

Analysts attribute the decline to several factors:

 Expectations surrounding the upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping have reduced demand for safe-haven assets;
 The end of the seasonal buying period in India has put pressure on the gold market;
 The recovery of the U.S. dollar has also negatively affected gold prices.

It is worth noting that on October 16, gold prices exceeded $4,300 per ounce for the first time in history, and on October 20, they reached as high as $4,398. The surge was driven by rising tensions between the U.S. and China and expectations that the U.S. Federal Reserve would maintain a soft monetary policy until the end of the year.

The fall in global gold prices has also been reflected in Uzbekistan’s market. According to data published by the Central Bank on October 22, the price of gold stood at 166.523 million soums per 100 grams. On October 21, it was 173.861 million soums — a 4.22 percent decrease in just one day.

Earlier, on October 6, 2025, gold reached an all-time high, surpassing $4,000 per ounce for the first time in history.