Gold down about 20% from its January peak, silver about half, Indian index funds and crypto down too. Why did gold, the usual safe place, fall with everything else?
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The week behind it: China’s CSI 300 fell 8.5% in October, its steepest month since early 2016 (TokenPost, 1 Nov 2026).
The biggest US AI and chip stocks shed about $5 trillion in market value since 6 Oct (Yahoo Finance, 1 Nov 2026).
About $6.3 billion was stolen from Binance (Help Net Security, 30 Oct 2026), and the US and Iran both prepare for strikes (CNBC, 2 Nov 2026).
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In such a panic, traders on borrowed money get margin calls and must sell what turns into cash fastest. XTB’s analysis of 30 Oct: “Tech sector declines and margin calls forced investors to liquidate liquid assets for cash.” Gold fell over 3% that Friday.
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Two things for a gold holder: keep an emergency fund apart from gold, and judge gold by the allocation you planned. A 10 : 90 plan of gold and equity is about 8.9% gold after gold -20% and Nifty 50 index funds -8.7% (our arithmetic on AMFI figures).
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Figures: AMFI NAV medians, 29 Jan to 30 Oct 2026 (gold ETFs -20.2%, silver ETFs -51.6%, Nifty 50 index funds -8.7%). Nifty 50 rose 2% in the week to 30 Oct (NSE close 23,053.10). Nifty IT +17.7% and Nasdaq 100 -6.7% in October.
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For education only, not investment advice.
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