Gold prices are trading just above the $4,080 per ounce mark today, 15 November 2025, after a whipsaw week that saw bullion surge to fresh highs above $4,200 before tumbling on hawkish US Federal Reserve commentary and the end of the record US government shutdown. Twelve Data
Key Takeaways at a Glance
- Global spot gold (XAU/USD) is hovering around $4,080–$4,100 per troy ounce, depending on the feed, with intraday ranges roughly between $4,075 and $4,092. Twelve Data
- Weekly move: After touching above $4,240/oz mid‑week, gold dropped by roughly $120 at its lowest point before stabilising just above $4,000. Gold Price
- India: Benchmark 24K gold in India is around ₹12,508 per gram (≈₹1,25,080 per 10g), down nearly ₹1,960 per 10g from yesterday; MCX December futures are near ₹1,23,400 per 10g, down about 2.6%. Goodreturns
- Local crashes:
- Thailand: domestic gold prices are down 1,150 baht today, with jewellery at 63,600 baht and bars at 62,800 baht. nationthailand
- Pakistan: per‑tola gold has fallen Rs 9,100 to about Rs 430,662, with international gold quoted near $4,083/oz. The Express Tribune
- Driver of the move: Hawkish Fed remarks, a stronger US dollar, higher bond yields and the reopening of the US government after a 43‑day shutdown have all triggered profit‑taking and a sharp pullback from record highs. The Financial Express
Global Gold Price Today (XAU/USD)
Real‑time pricing varies slightly across data providers, but the global picture is clear: gold is consolidating below recent peaks and holding a key support zone just above $4,000.
- Twelve Data shows spot gold at about $4,080.43 per ounce as of late trading today, with a day’s range between roughly $4,075 and $4,092 and a previous close near $4,089.59. That implies a modest daily drop of around 0.2%. Twelve Data
- JM Bullion, which tracks live bullion dealer pricing, lists the gold spot price at $4,095.19/oz as of 05:32 AM ET, down about $83.56 (≈2.0%) compared with its previous reference level. JM Bullion
Different feeds use slightly different cut‑off times and benchmarks, but together they suggest:
Gold price today (15 November 2025): roughly $4,080–$4,100 per ounce, off the week’s highs above $4,240 but comfortably above the $4,000 floor. Twelve Data
From a longer‑term perspective, TradingEconomics data show that gold was around $4,080/oz on 14 November, down about 3% over the past month but still up roughly 59% year‑on‑year, underscoring how elevated current levels remain despite the latest correction. Trading Economics
Gold Price Today in Major Local Markets
India: Sharp Correction but Prices Still Near Record Highs
India, one of the world’s largest physical gold markets, is feeling the impact of the global sell‑off very directly.
National average (Goodreturns):
Goodreturns’ all‑India benchmark for 15 November shows: Goodreturns
- 24K gold:
- ₹12,508 per gram
- ≈ ₹1,25,080 per 10g, down ₹1,960 from yesterday
- 22K gold:
- ₹11,465 per gram
- ≈ ₹1,14,650 per 10g, down ₹1,800
- 18K gold:
- ₹9,381 per gram, with similar percentage declines
A detailed Goodreturns report notes that 100g of 24K gold is down about ₹19,600 today, and 22K and 18K prices have also seen five‑figure rupee losses at the 100g level. Goodreturns
MCX futures and metro rates (Livemint):
On the derivatives side, MCX Gold December futures slipped 2.64% (₹3,351) to about ₹1,23,400 per 10g, mirroring the slide in global prices. mint
According to India Bullion data compiled by Livemint, indicative retail rates this morning were roughly: mint
- 24K gold in major metros (per 10g):
- Mumbai: ≈ ₹1,23,680
- New Delhi: ≈ ₹1,23,470
- Chennai: ≈ ₹1,24,040
- Other big cities (Ahmedabad, Bengaluru, Hyderabad, Kolkata) cluster in the ₹1,23,500–₹1,23,900 range
- 22K gold (per 10g): mostly around ₹1,13,200–₹1,13,700 across metros
Separately, Livemint and Financial Express highlight that domestic prices saw one of their sharpest intraday drops of nearly ₹5,000 per 10g on Friday before recovering part of the loss, with the week still ending higher overall thanks to earlier gains. The Financial Express
Goodreturns also links part of today’s abrupt correction to political developments around the Bihar legislative assembly election results, which added a local sentiment trigger on top of the global sell‑off. Goodreturns
Thailand: Baht‑Denominated Gold Slumps
In Thailand, The Nation reports that domestic gold prices dropped by 1,150 baht today, 15 November, a sizeable intraday move for local traders. The latest quotes from the Thai Gold Traders Association, as carried in the report, show: nationthailand
- Gold jewellery (96.5% purity):
- Buying: ≈ 61,443.48 baht
- Selling: 63,600 baht
- Gold bars (96.5% purity):
- Buying: 62,700 baht
- Selling: 62,800 baht
The article squarely attributes the fall to volatility in global spot prices and broader economic uncertainty, and warns of the potential for further intraday adjustment. nationthailand
Pakistan: Steep Drop in Tola Prices
Pakistan is seeing similarly sharp declines. The Express Tribune notes that: The Express Tribune
- International bullion prices fell by about $91 per ounce to around $4,083/oz.
- In the local market, gold per tola slid Rs 9,100 to roughly Rs 430,662, while 10g fell Rs 7,799 to around Rs 369,223.
The move reflects both the global correction and local currency dynamics, with rupee weakness amplifying volatility in domestic gold quotes. The Express Tribune
Why Is Gold Under Pressure Today?
1. Hawkish Federal Reserve Tone
Several pieces of analysis agree that the single biggest driver of this week’s gold reversal has been a more hawkish tone from Federal Reserve officials.
- An FXEmpire report on Saturday points out that spot gold tumbled more than 3% intraday on Friday, ultimately settling around $4,085.82, as Fed policymakers pushed back on aggressive expectations for a December rate cut. The article highlights a key technical support zone between $4,065 and $4,023 that traders are now watching closely. FXEmpire
- A wrap‑up from GoldPrice.org emphasises that gold first surged above $4,240/oz mid‑week, fuelled by hopes of another FOMC cut, before hawkish comments from multiple regional Fed presidents knocked the metal back toward $4,080/oz. Gold Price
- The New Indian Express notes that global gold and silver prices fell “significantly” on Friday as investors reassessed the likelihood of near‑term easing, with higher‑for‑longer rate expectations weighing on non‑yielding assets like bullion. The New Indian Express
Higher real yields increase the opportunity cost of holding gold, which pays no interest. That makes it harder for the metal to justify record‑high valuations unless risk aversion or inflation fears are surging.
2. End of the Record US Government Shutdown
Another crucial narrative this week has been the end of the 43‑day US government shutdown, the longest on record.
- Reuters reports that gold fell about 1.1% to $4,151.86/oz on 13 November, with analysts describing a broad “sell‑everything” reaction as markets processed the reopening deal and unwound emergency positioning. Reuters
- Both Financial Express and GoldPrice.org highlight that the shutdown and subsequent reopening have created a “data desert”: critical US economic reports such as CPI, PPI and payrolls were delayed or may never be released in full, forcing traders and Fed officials alike to lean more heavily on sentiment and private surveys. Gold Price
Initially, the reopening spurred optimism that a wave of delayed data would justify another rate cut in December, but as Fed officials signalled caution, that optimism faded and gold’s mid‑week rally gave way to profit‑taking. Gold Price
3. Stronger US Dollar and Rising Yields
Gold also faces direct headwinds from a firmer US dollar and higher Treasury yields:
- Financial Express notes that the dollar index is holding near 100 and that expectations for a December cut have slid from “around 90%” to “near 60%,” both of which are negative for bullion. The Financial Express
- FXEmpire’s analysis highlights US 10‑year yields above 4.1%, with shorter‑dated yields also around multi‑week highs, pushing investors toward interest‑bearing assets. FXEmpire
The inverse relationship between gold and the dollar is well‑documented: as the dollar strengthens, gold becomes more expensive for buyers using other currencies, often damping demand. Recent coverage on Meyka reiterates this classic dynamic, describing how dollar fluctuations transmit directly into gold pricing via global FX channels. Meyka
4. Local Triggers and Political News
In some markets, local factors have exaggerated the global move:
- Goodreturns explicitly links today’s sharp fall in Indian rupee‑denominated prices to the Bihar state election outcome, which appears to have encouraged profit‑taking after a strong pre‑election rally. Goodreturns
- In Thailand and Pakistan, domestic reports stress that the move is closely tied to global spot volatility and currency swings, underlining how quickly local retail prices can adjust when international bullion shifts. nationthailand
Weekly Technical Picture: Still a Bull Market, but Volatility Is Back
Even after this week’s pullback, gold is still in what many analysts regard as a secular bull market:
- Twelve Data’s historical series show XAU/USD climbing from roughly $4,000 at the start of November to above $4,210 on 14 November before settling back to about $4,080 today. Twelve Data
- TradingEconomics points out that while gold is down a little over 3% month‑on‑month, it remains up nearly 60% year‑on‑year. Trading Economics
FXEmpire’s technical outlook outlines key levels that many traders are watching: FXEmpire
- Support zone: roughly $4,065–$4,023/oz; a sustained break below here could bring the 50‑day moving average near $3,938 into focus.
- Resistance zone: around $4,134–$4,192/oz; reclaiming this band would put the recent $4,245 high back on the radar and reopen the path toward the all‑time high near $4,381.
For now, gold is trading inside that support band but above $4,000, with sentiment cautious rather than outright bearish. FXEmpire
What This Means for Investors and Buyers
Not investment advice: The following points are for information and education only. Always consider your own circumstances and, where appropriate, consult a licensed financial adviser before making investment decisions.
For Short‑Term Traders
- Expect continued volatility: this week alone has featured intraday swings of 3–4% in gold and even larger moves in silver. FXEmpire
- Markets are highly sensitive to Fed speeches, any surprise data releases, and dollar moves. Position sizing and risk management are crucial in this kind of environment.
For Long‑Term Investors
- Despite the short‑term correction, gold remains historically elevated, with many markets (like Delhi and major Indian metros) still showing double‑digit percentage gains over the past year. mint
- Analysts quoted across several outlets emphasise that the broader uptrend is still intact, driven by central‑bank buying, concerns over US fiscal health, and expectations of lower real rates over the next few years. FinancialContent
For Jewellery Buyers
- Today’s pullback offers some relief on local prices in India, Thailand, Pakistan and elsewhere, but levels remain high by historical standards. Goodreturns
- For weddings or festive purchases, buyers may see this as a tactical dip, but budget planning should assume that gold is unlikely to revert quickly to pre‑2025 price levels unless there is a major macro shift. Trading Economics
What to Watch Next
Looking ahead to the rest of November and into December, gold traders and buyers will be tracking:
- Fed communication: any hints that rate cuts are back on the table for December or early 2026 could reignite the rally; conversely, further hawkish pushback may test support near $4,000 again. FXEmpire
- Release (or cancellation) of delayed US data after the government shutdown: CPI, PPI and employment figures will be critical for real‑yield expectations—if they appear at all. Gold Price
- Dollar Index (DXY) and US yields: continued strength here is a headwind for bullion; any reversal could support a rebound. The Financial Express
- Local political and election outcomes, such as those just seen in Bihar, which can influence domestic sentiment, currency moves and import demand. Goodreturns
For now, the takeaway is straightforward:
Gold price today, 15 November 2025, is lower than this week’s peaks but still historically high, with XAU/USD consolidating just above $4,080 and local markets from Mumbai to Bangkok and Karachi repricing rapidly to reflect the global correction. Goodreturns
