Gate’s TradFi trading volume reached $6.89B from October 26–29, as traders positioned around the Fed decision and PCE data. That follows a record week for precious metals: during October 19–25, metals volume hit $5.04B, beating the $4.23B set just one week earlier, while total TradFi volume rose 12% to $10.07B.

That timing is interesting: gold price fell 3.5% and hit $3,986, its lowest level since July 20, as rising oil prices pushed back Fed rate-cut expectations. Silver also fell to its lowest level since November 2025. Gate traders kept trading. October 22 saw $2.23B in TradFi volume, including $1.32B in metals, the third-highest metals day on record. Gold (XAU) led with $3.52B (70%), followed by silver (XAG) at $1.40B (28%).

Oil trading picked up too. Brent hit a five-month high after Houthi attacks in Saudi Arabia, while Gate's oil volume jumped 40% to $868M. WTI (CL) accounted for 79%, with Brent (BZ) at 21%.

Stocks, meanwhile, have lost ground. During the week of August 17, Gate recorded $19.89B in TradFi volume, largely driven by SanDisk ($12.12B), SK Hynix ($2.25B) and SpaceX ($1.54B). Since then, weekly equity volume has fallen 78%, from $18.50B to $4.15B. Stocks accounted for 89% of trading in August, compared with 44% in October. Metals now lead at 48%.

October volume has already reached $36.8B. Trading has shifted from stocks back to gold as inflation and interest-rate concerns return, and this week confirmed them. On October 28, the Fed held rates at 3.75–4.00% in a hawkish decision, with two officials voting for a hike and markets now pricing a likely December increase. A day later, September PCE inflation rose to 3.6% (core 3.1%), sending gold briefly back below $4,000.

Written by maartunn