Gold prices averaged USD 2,652 per troy ounce in November, down 1.4% from October. On 29 November, the commodity traded at USD 2,659 per troy ounce, down 3.0% from 31 October.
Gold prices fell for the first time in five months in November, as Trump’s recent election victory in the U.S. led markets to pare back expectations for Fed monetary easing in 2025. A stronger greenback and a monthly rise in U.S. treasury bill yields hit investors’ appetite further, as did the Israel-Hezbollah ceasefire. That said, an escalation in the Russia-Ukraine war limited the dip in prices, supporting safe-haven demand. Healthy festivity-related demand in India added additional upward pressure.
This chart displays Gold (US$/toz) from 2022 to 2024.
Gold LBMA (prices in US$/toz, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Gold LBMA | 1,889 | 1,978 | 1,928 | 1,977 | 2,072 | 2,338 | 2,474 | - |