Commodity prices in October 2025: the biggest changes
In October 2025, 19 of 43 benchmark prices rose and 21 fell, with 3 unchanged; the median change was 0.0%. Silver rose most, +15.4%: largest one-month rise since August 2020, the 6th rise in a row. Oranges fell most, −18.6%. 4 prices set a record in cash terms: silver, gold, copper, beef.
Biggest gains
| Commodity | Price | Month | 12 months | How unusual |
|---|---|---|---|---|
| Silver | $49.4/troy oz | +15.4% | +52% | Largest one-month rise since August 2020, the 6th rise in a row |
| Platinum | $1,616/troy oz | +12.6% | +62% | Largest one-month rise since June 2025 |
| Bananas | $1.13/kg | +10.8% | +10% | Largest one-month rise since February 2025 |
| Gold | $4,058/troy oz | +10.6% | +51% | Largest one-month rise since August 2011, the 3rd rise in a row |
| Natural gas | $3.2/MMBtu | +7.7% | +45% | Largest one-month rise since January 2025 |
| Copper | $10,740/t | +7.6% | +13% | Largest one-month rise since April 2024 |
| Zinc | $3,152/t | +7.5% | +1% | Largest one-month rise since October 2024, the 6th rise in a row |
| Aluminum | $2,793/t | +5.3% | +8% | Largest one-month rise since October 2024 |
Biggest falls
| Commodity | Price | Month | 12 months | How unusual |
|---|---|---|---|---|
| Oranges | $1.05/kg | −18.6% | −60% | Largest one-month fall since March 2025 |
| Cocoa | $5.95/kg | −15.4% | −11% | Largest one-month fall since March 2025 |
| Urea | $394.4/t | −14.5% | +5% | Largest one-month fall since February 2023 |
| Palm kernel oil | $2,273/t | −5.8% | +39% | Largest one-month fall since June 2025 |
| Crude oil | $64.7/bbl | −4.9% | −15% | Largest one-month fall since May 2025, the 4th fall in a row |
| Rice | $356/t | −4.8% | −31% | Largest one-month fall since July 2025, the 5th fall in a row |
| Phosphate fertilizers | $754/t | −3.4% | +31% | Largest one-month fall since May 2024 |
| Sugar | $0.34/kg | −2.9% | −26% | Largest one-month fall since September 2025 |
New records
These prices reached their highest monthly average in the series in October 2025, in cash terms: silver ($49.4/troy oz), gold ($4,058/troy oz), copper ($10,740/t), beef ($7.09/kg). A cash record is not the same as a record after inflation; the real-prices report shows every price against its inflation-adjusted peak.
Long runs
Prices that have now moved in the same direction for four or more months in a row: silver, 6 rises (+15.4% in October 2025); zinc, 6 rises (+7.5% in October 2025); rice, 5 falls (−4.8% in October 2025); tin, 5 rises (+4.4% in October 2025); beef, 5 rises (+2.8% in October 2025); palm oil, 5 rises (+0.1% in October 2025); crude oil, 4 falls (−4.9% in October 2025); sunflower oil, 4 rises (+3.9% in October 2025).
By category
| Category | Average change | Prices |
|---|---|---|
| Metals | +6.4% | 10 |
| Energy | +1.3% | 3 |
| Livestock, meat & dairy | +1.0% | 3 |
| Oilseeds & vegetable oils | −1.0% | 7 |
| Timber & forest products | −1.4% | 3 |
| Grains & cereals | −1.9% | 3 |
| Fibres & other raw materials | −2.0% | 2 |
| Softs | −3.1% | 5 |
| Fruit & vegetables | −3.9% | 2 |
| Fertilizers | −4.5% | 4 |
Biggest changes over twelve months
| Commodity | Price | 12 months | This month |
|---|---|---|---|
| Platinum | $1,616/troy oz | +62% | +12.6% |
| Oranges | $1.05/kg | −60% | −18.6% |
| Silver | $49.4/troy oz | +52% | +15.4% |
| Gold | $4,058/troy oz | +51% | +10.6% |
| Coconut oil | $2,547/t | +47% | −1.9% |
| Coffee | $8.9/kg | +46% | +0.8% |
| Natural gas | $3.2/MMBtu | +45% | +7.7% |
| Palm kernel oil | $2,273/t | +39% | −5.8% |
See also every benchmark price, the pattern reports, and the price movers feed. Data: monthly.json.