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Global gold prices fall to lowest level since November 4

Published : Thursday, 12 November, 2026 at 12:40 PM

Observer Online Report

Collected Photo

Global gold prices fell to their lowest level in over a week on Thursday (November 12), pressured by a stronger US dollar and growing expectations that the US Federal Reserve will raise interest rates next month.

According to Reuters, spot gold edged down 0.2 per cent to $3,977.99 per ounce around 11:00AM, after earlier touching its lowest point since November 4. Meanwhile, US gold futures for December delivery dropped 0.4 per cent to $3,983.20 per ounce.

Market analysts noted that fresh US inflation data and the prospect of higher interest rates have weighed heavily on the bullion market. A firmer greenback has been a primary driver behind the downward pressure on international gold prices.

On Thursday, the US dollar surged to a 19-month high against major rival currencies. A stronger dollar makes dollar-priced gold more expensive for buyers holding other currencies, dampening global demand.

Ilya Spivak, head of global macro at Tastylive, stated that gold has suffered notable losses over the past few days following the release of US inflation figures and rising bets on a rate hike, though uncertainty remains over how long the downward momentum will last.

Data published on Tuesday showed that US consumer inflation rose more than expected in October, prompting Federal Reserve policymakers to signal further interest rate increases ahead.

-EM

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Editor : Iqbal Sobhan Chowdhury

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