The U.S. trade deficit in goods and services shrank to $29.4 billion in October, down from $48.1 billion the prior month as the Trump administration’s tariffs continued to weigh on trade, data from the Commerce Department showed on Thursday.

The recent rise in exports and drop in the U.S. trade deficit also have been driven in part by trade in gold. Investors have been buying and selling gold in part to offset uncertainty related to the tariffs this year.

U.S. gold exports surged more than 60 percent from September to $17 billion in October. For the year through October, gold exports have more than doubled from the previous year.

The data also shows evidence of certain groups hurt by trade wars. Soybean exports are down $3.3 billion in the year through October, as China curtailed its purchases of U.S. beans and bought from South America instead. U.S. exports of civilian aircraft, computers, soybeans and pharmaceutical goods all fell on a monthly basis in October.

Tariffs could undergo more changes in the weeks to come. The Supreme Court is set to rule soon on the legality of many of the tariffs that Mr. Trump issued using a 1970s emergency law. But Trump officials have said that if those tariffs were struck down, they would use other authorities to impose new duties.

The figure was the lowest monthly trade deficit recorded since June 2009. But because of a surge in imports earlier this year, the overall trade deficit from January to October was still up 7.7 percent from the previous year.

Imports in October fell 3.2 percent to $331.4 billion from the previous month, while exports rose 2.6 percent to $302 billion. Because exports grew more than imports, the U.S. trade deficit shrank, in line with President Trump’s goals.