Global shares mixed as gold retreats sharply and valuation concerns rise

Global equities were mixed on October 22 2025, as gold extended its pull-back from a recent rally and stretched equity valuations drew attention from investors. While some markets showed gains, many retreated amid concerns that assets had soared too far. Geopolitical uncertainty—particularly over planned summits involving the U.S. and China—added to the cautious tone. Market participants noted that the volatility in commodities such as gold is reverberating through equities and currencies, raising questions about risk appetite in the near term.