# Gold, silver recover from October rout as oil drops, Fed tightening bets persist - Kitco PM Report

> Spot gold and silver rose on Monday, recovering from steep Friday losses, as crude oil fell more than 7% on reports of renewed US-Iran negotiations. ISM manufacturing rose to 55.5 in October, while expectations for further Federal Reserve tightening persisted.

- Date: 2026-11-02 · published 2026-11-03T00:45:39.505Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/76780-gold-silver-recover-from-october-rout-as-oil-drops-fed-tightening-bets-persist
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower crude eases energy-driven inflation concerns, which reduces expected Fed tightening and supports metals. For feed buyers, the drop in energy costs and diesel is a modest relief on freight and processing costs.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- kitco.com: https://www.kitco.com/news/article/2026-11-02/gold-silver-recover-october-rout-oil-drops-fed-tightening-bets-persist

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.