October gold price fell 6.3%... $3,913 based on LBMA, about 5.25 million won

Gold fell 6.3% in October to $3,913 per troy ounce on the LBMA afternoon benchmark, down from a January 29 peak of $5,405, according to the World Gold Council's monthly market commentary. The WGC attributed the decline to reduced futures positioning and capital flows in addition to interest rate factors, with COMEX gold futures settling at $3,956.90 on November 2. The drop came even as interest rates declined, a typically supportive backdrop for bullion. The WGC's focus on futures positioning and fund flows signals that speculative and portfolio rebalancing drove the move rather than macro rate dynamics alone. Watch upcoming COMEX positioning data and ETF flow figures for whether the unwind continues or stabilizes.