Gold Price Today, 19 November 2025: XAU/USD Near $4,100 as Markets Await Fed Minutes & Jobs Data

Gold prices are back on the rise today, Wednesday, 19 November 2025, with spot XAU/USD trading around $4,090–$4,120 per troy ounce, as investors shift into safe‑haven assets ahead of key Federal Reserve minutes and a delayed U.S. jobs report. ^[1]

Key Takeaways – Gold Price Today (19.11.2025)

Spot gold (XAU/USD) is hovering close to $4,100/oz, up roughly 0.5–1.1% on the day, depending on the data provider. ^[2]
Intraday range has broadly stretched from about $4,055 to $4,120, showing a firm rebound from this week’s lows. ^[3]
COMEX gold futures (Dec 2025) are trading just above $4,080–4,100/oz, also up around 0.5–1.2%. ^[4]
In India, average retail rates for 24K gold are clustered around ₹12,300–₹12,500 per gram, with local variations by city and source; MCX gold futures are near ₹1,22,900 per 10g. ^[5]
The move comes as global equities wobble, the U.S. dollar stays relatively firm, and markets price only a roughly 50% chance of another Fed rate cut in December, keeping gold tightly linked to macro headlines. ^[6]

Live Gold Price Today: Around $4,100 per Ounce

Across major price feeds, gold is trading near $4,100 per troy ounce on 19 November 2025:

A widely followed spot feed shows XAU/USD around $4,111, with today’s range roughly $4,055–$4,119. ^[7]
Independent datasets put today’s close or latest fix near $4,112.7, up about 1.1% versus Tuesday. ^[8]
Some bullion dealers quote even higher tick prices this morning, such as $4,124.08/oz, up about 1.2% on the session. ^[9]

Different platforms update at slightly different times and use varying benchmarks (bid, ask, or mid), which is why the exact number can differ. But the message is clear: gold is comfortably above $4,000 and trading near the upper end of today’s intraday range.

For context, the metal is still not far from its all‑time high near $4,380/oz, set in October 2025, and remains roughly 50–55% higher than a year ago. ^[10]

COMEX Gold Futures Today (19 November 2025)

In the futures market, COMEX gold contracts reflect the same bullish tone:

December 2025 gold (GCZ5) is trading in the $4,080–$4,100/oz zone, up around 0.5–1.2% on the day, after a volatile week that recently saw prices dip below $4,000 intraday. ^[11]
Historical data for today show a high near $4,117, a low around $4,056, and a daily gain of roughly 1.16% on front‑month futures. ^[12]

Futures volumes remain healthy, underscoring strong speculative and hedging interest in gold at these elevated price levels. ^[13]

Why Is Gold Rising Today?

1. Fed Minutes, Delayed Jobs Data and Rate‑Cut Odds

The number‑one driver of today’s move is anticipation around U.S. monetary policy:

A Reuters report notes that spot gold is up about 0.5% to roughly $4,089/oz, with traders focused on the Federal Reserve’s latest meeting minutes and a delayed non‑farm payrolls report, postponed by the recent U.S. government shutdown. ^[14]
Markets currently price roughly a 50% chance of another 25 bps rate cut in December, sharply lower than expectations a month ago, which has introduced new uncertainty and volatility into rate‑sensitive assets like gold. ^[15]

Gold typically benefits when real interest rates fall or are perceived to be heading lower. Today’s move is less about a sudden dovish pivot and more about investors seeking protection against policy and data surprises.

2. Risk‑Off Mood and Stock Market Jitters

Global equities are under pressure, and that’s giving gold an additional tailwind:

Bloomberg notes that gold is rising for a second day as investors weigh stock‑market jitters, particularly around stretched AI‑driven valuations, against the Fed’s policy path. ^[16]
Other commentary highlights sharp declines in major indices this week, which has pushed some investors towards traditional safe havens like gold. ^[17]

When risk appetite cools, gold’s role as a portfolio hedge tends to come back into focus — exactly what we’re seeing in today’s price action.

3. Dollar, Yields and Global Macro Cross‑Currents

The story is not one‑way bullish. The U.S. dollar remains relatively firm, which usually caps upside for dollar‑denominated gold:

Several reports stress that today’s rise comes despite a strong or steady dollar, with risk aversion and safe‑haven demand offsetting currency headwinds. ^[18]
Yields have eased off recent peaks but remain elevated compared with pre‑2022 norms, making the opportunity cost of holding non‑yielding gold higher than in previous cycles.

This push‑and‑pull dynamic helps explain why gold is up solidly today but not yet retesting its October record high.

4. Central Banks and Long‑Term Demand Story

Today’s intraday move sits on top of a deeper structural trend:

A recent Reuters/Goldman Sachs note highlighted that central banks likely bought around 64 tonnes of gold in September, and that heavy official‑sector buying has probably continued in November. ^[19]
The World Gold Council reports that Q3 2025 gold demand hit a record ~1,313 tonnes, with strong ETF and bar‑and‑coin investment alongside still‑elevated central bank purchases. ^[20]

This backdrop of robust, structural demand helps explain why gold has remained above $4,000 even when short‑term rate‑cut hopes have faded.

Gold Rate in India Today – 19 November 2025

India, one of the world’s largest gold consumers, is seeing high but uneven domestic prices today.

Retail Gold Prices (24K & 22K)

Different agencies quote slightly different averages, but most cluster in a similar band:

National‑level portals show 24K gold around ₹12,300–₹12,500 per gram, and 22K gold near ₹11,300–₹11,450 per gram on 19 November 2025. ^[21]
City‑wise breakdowns for major metros such as Delhi, Mumbai, Chennai, Kolkata and Bengaluru show 24K prices per 10g mostly in the ₹1,22,000–₹1,25,500 range, with 22K proportionally lower. ^[22]

The small differences between sources reflect brand premiums, local taxes, logistics costs, and timing of price updates.

Some outlets describe today’s move as a mild easing from mid‑month peaks, while others emphasise a small uptick versus yesterday, underlining how narrow the day‑to‑day changes are at these high levels. ^[23]

MCX Gold Futures

On the Multi Commodity Exchange (MCX):

December gold futures are quoted near ₹1,22,900 per 10 grams, up around ₹250–₹300 (≈0.2%) today as futures rebound from a recent three‑session losing streak. ^[24]

Analysts on domestic business channels and broker reports frame this as a technical bounce within a broader consolidation phase, tied closely to international XAU/USD moves.

Other Key Regional Gold Moves

Gold’s global rally is rippling through regional markets in different ways:

In Pakistan, local bullion associations report that gold has fallen by around PKR 7,000 per tola today, despite the rebound in international prices, reflecting currency dynamics and softer local demand. ^[25]
In Indonesia, retail jewellery quotes for lower‑purity gold (e.g., 9‑carat and 18‑carat) remain elevated, tracking the global benchmark even as consumer spending adjusts to higher prices. ^[26]

These variations underscore that while global spot prices set the tone, currency moves, import duties and local demand can significantly alter the final retail rate.

Technical Picture: Levels Traders Are Watching Today

Short‑term technical analysis coverage for gold today points to a battle around key support and resistance zones:

Several strategy notes flag support in the $4,040–$4,060 range, the area tested during this week’s dip below $4,000. ^[27]
On the upside, analysts highlight resistance around $4,115–$4,150, roughly where today’s highs are clustering and near prior congestion zones on daily charts. ^[28]

In broad terms, many short‑term traders see gold in a bullish but corrective channel:

Dips towards $4,000–$4,050 are being watched for potential “buy‑on‑dips” setups. ^[29]
A clear daily close above the mid‑$4,100s could re‑open a run back toward the October record around $4,380 if macro data cooperates. ^[30]

As always, these are technical scenarios, not guarantees — and they can change quickly if incoming data or Fed communication surprises the market.

Outlook: What Could Move Gold Next?

Looking beyond today’s tape, a few key catalysts stand out:

Fed Minutes & Jobs Report
Any hint that the Fed is closer (or further) from additional rate cuts could reprice real yields and quickly swing gold in either direction. Markets are particularly sensitive because expectations have already cooled sharply from earlier in the autumn. ^[31]
Central Bank Flows
With central banks still buying heavily, many banks — including Goldman Sachs — argue that official‑sector demand may keep a floor under prices, even during corrections. Some forecasts now see gold approaching $4,900 by end‑2026 if this trend continues. ^[32]
Global Growth & Geopolitics
Elevated geopolitical and fiscal risks (from U.S. debt debates to Japan’s fiscal concerns and ongoing regional conflicts) continue to underpin safe‑haven demand. ^[33]
Investor Sentiment & ETFs
Q3 data show a surge in gold‑backed ETF inflows and investment buying, even as jewellery demand in price‑sensitive markets like India has cooled. If ETF demand remains strong, dips may continue to be quickly bought. ^[34]

What Today’s Gold Price Means for You

Investors: Gold remains historically expensive but also deeply embedded in the current macro story of high but peaking rates, persistent inflation worries, and geopolitical risk. Today’s move around $4,100 fits into a year‑long narrative of investors using gold as a hedge and portfolio diversifier, rather than a short‑term speculative trade. ^[35]
Jewellery buyers: Whether you’re in India, Pakistan, Southeast Asia or the Middle East, today’s local prices are near multi‑year highs in local currency terms. Many households are buying more selectively, shifting to lighter pieces or lower‑purity gold to stay within budgets. ^[36]
Short‑term traders: Volatility remains elevated, with daily swings of $50–$100/oz not unusual at current levels. Tight risk management around the key levels discussed above is essential. ^[37]

Important: This article is for information and news purposes only and does not constitute investment, trading, tax, or legal advice. Always do your own research or consult a qualified adviser before making financial decisions.

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