Gold Price Today, 23 November 2025: Spot Gold Holds Near $4,065 as Markets Await Key US Data

Spot gold is trading close to $4,065 per ounce on Sunday, 23 November 2025, consolidating after a volatile week that kept the metal firmly near record territory. Live feeds from international bullion trackers show gold fluctuating in a tight band around $4,060–$4,080 per troy ounce, with 24K gold at roughly $130–$131 per gram. ^[1]

Analysts describe today’s move less as a trend change and more as a pause: the yellow metal is digesting strong gains of nearly 50% over the past year, even as a firmer US dollar and shifting expectations for Federal Reserve rate cuts keep a lid on fresh breakouts. ^[2]

Global Gold Price Snapshot – 23 November 2025

Most real‑time price aggregators agree that XAU/USD is hovering just above the $4,060 mark today:

GoldRate24 & 150Currency quote spot gold at $4,064.71 per ounce, or $130.70 per gram of 24K gold, as of late morning GMT. ^[3]
JM Bullion, a major US bullion dealer, shows a slightly higher live spot price of $4,078.91 per ounce, or $131.14 per gram, as of 07:21 AM ET — a typical small variation due to different data providers and update times. ^[4]
Daily historical tables indicate that gold has drifted modestly lower versus recent highs, with spot prices near $4,115–$4,200 earlier in November and an annual high around $4,348 per ounce. ^[5]

In short: gold is steady rather than surging today, trading just a fraction of a percent below levels seen late last week.

How Today’s Price Compares to This Week and This Year

Data from spot-price databases paint a picture of high‑but-rangebound trading:

Over the last few sessions, gold has repeatedly oscillated between roughly $4,035 and $4,132, forming what technicians describe as a symmetrical triangle — a classic consolidation pattern after a strong rally. ^[6]
Price logs show gold down about 0.3–0.4% compared with yesterday, but up more than 20% versus six months ago and almost 50% compared with the same period last year, according to year‑on‑year change statistics from GoldRate24. ^[7]

A weekly recap from Indian market coverage underlines this volatility: Indian Bullion and Jewellers Association (IBJA) data show 24K gold in India swinging between ₹1,21,691 and ₹1,23,388 per 10 grams over the past week, even as COMEX futures hovered near $4,080 per ounce. ^[8]

What’s Moving Gold Today?

1. The Dollar, Yields and the Fed

Gold’s current consolidation is tightly linked to US macro data and interest-rate expectations:

A Reuters report from earlier this week noted that gold bounced from a one‑week low after soft US jobless claims data boosted the chances of a Federal Reserve rate cut in December, pushing spot prices back above $4,070 per ounce. ^[9]
However, as newer data filters in, markets remain split. The CME FedWatch probabilities for a near‑term cut have eased from earlier highs, tempering gold’s upside as traders reassess how soon policy might actually loosen. ^[10]

A detailed FX Leaders weekend analysis sums up the current tension neatly: gold “closed at $4,065” in the latest session, as traders balanced a firm but not surging US dollar against weakening economic indicators such as rising unemployment claims and a negative Philadelphia Fed manufacturing index reading. ^[11]

In that view, gold is being pulled in opposite directions:

Bullish forces: recession worries, mixed US data, and stubborn inflation.
Bearish forces: a still‑strong dollar index near 100 and the risk that the Fed keeps rates high for longer. ^[12]

2. Technical Picture: A Market Waiting to Break

From a charting perspective, gold is at a critical technical junction:

FX Leaders identifies a symmetrical triangle in XAU/USD, with support near $4,035 and resistance around $4,132–$4,170. ^[13]
The analysis warns that a clear break above $4,132 could open the door toward $4,170 and $4,211, while a failure of $4,035 would re‑expose the $3,998–$3,965 region. ^[14]

Today’s calm price action suggests that many traders are staying on the sidelines, waiting for a decisive break in either direction after weeks of choppy trade.

3. Capital Rotation: From Equities to Hard Assets

Beyond day‑to‑day moves, some strategists see a larger regime shift at work:

An in‑depth FXEmpire piece argues that gold has become “the market’s leading asset” in 2025, outperforming the S&P 500 as higher valuations and tightening liquidity pressure stocks. ^[15]
The article highlights a falling S&P 500–to–gold ratio, a pattern historically associated with a rotation from growth assets into defensive, real assets like gold. ^[16]

In this framing, today’s price near $4,065 is less about “overvaluation” and more about gold consolidating its new role as a core safe‑haven asset.

4. Structural Demand: Central Banks and ETFs

Fundamental support also comes from long‑term buyers:

A Vietnamese market roundup citing Kitco notes that gold prices have climbed roughly 10% in September, 5% in October and around 4% so far in November, leading to an astonishing ~55% gain since the start of the year — the strongest annual performance since 1979. ^[17]
The same report cites analysis that gold ETF holdings have risen about 17% this year, while central banks continue to increase their gold reserves, with some countries targeting a rise in gold’s share of reserves from around 20% toward 30%. ^[18]

These flows help explain why gold remains elevated, even when short‑term macro data argue for occasional pullbacks.

Domestic Gold Prices Today – Key Markets Overview

While the international spot price is quoted in US dollars per ounce, local prices vary depending on currency moves, taxes and import duties. Here’s how gold price today, 23 November 2025, looks in some major markets.

India: Near Record Highs in Rupees

Across India, retail bullion quotes remain very high in rupee terms, even after recent corrections:

Nationwide averages from Goodreturns show 24K gold at ₹12,584 per gram and 22K gold at ₹11,535 per gram today. ^[19]
By city, 24K prices per gram are approximately:
- Chennai: ₹12,688
- Delhi: ₹12,599
- Mumbai & Kolkata: ₹12,584
- Bangalore, Hyderabad, Kerala, Pune: also around ₹12,584
  with 22K rates clustering near ₹11,535–₹11,630. ^[20]

A weekly review published by The Shillong Times notes that IBJA 24K prices closed the week at ₹1,22,653 per 10g, having swung more than ₹1,600 between weekly low and high, and describes the trend as a “healthy correction” within a still‑bullish structure. ^[21]

United States: Stable Gram Prices, Slightly Softer Ounce

In the US, retail and wholesale references show tight clustering:

GoldRate24 and 150Currency quote $4,064.71 per ounce, equivalent to $130.70 per gram for 24K gold, updated around late morning GMT. ^[22]
Goodreturns’ US page, which tracks branded 24K bullion, lists $133.50 per gram for 24K and $126.50 per gram for 22K, unchanged from yesterday. ^[23]

The small difference between $130.70 and $133.50 per gram reflects different benchmarks (interbank spot vs retail bullion rates including dealer margins).

Pakistan: New Records in Rupees

Pakistan’s gold market continues to feel the combined effect of high global prices and a weaker local currency:

UrduPoint reports today’s 24K gold rate at Rs 437,600 per tola and Rs 375,180 per 10 grams.
For 22K, the rate is Rs 401,105 per tola and Rs 343,912 per 10 grams. ^[24]

These levels keep gold near record nominal highs in Pakistan, and local coverage points to the Karachi Sarafa Bazar Association’s pricing as closely tracking international spot moves. ^[25]

Vietnam: Big Premium Over the Global Price

In Vietnam, domestic bullion prices show a sharp premium over world prices:

A detailed table from Nghe An Newspaper (Baonghean) shows SJC gold bars quoted at about 148.4–150.4 million VND per tael (buy–sell) at 3:00 PM local time today. ^[26]
Using Kitco data, the same article notes the world spot gold price at $4,064.7 per ounce — equal to roughly 129.3 million VND per tael at Vietcombank’s exchange rate — meaning domestic bar prices are about 21.1 million VND per tael higher than international parity. ^[27]

Such premiums reflect tight supply, strong local demand and regulatory factors in Vietnam’s gold market.

Malaysia: Crowded Shops Despite Higher Prices

In Malaysia, the story is less about today’s small move and more about how high prices already are:

A feature in The Straits Times describes jewellery stores in Kuala Lumpur packed with both buyers and sellers after gold’s rally above US$4,000 per ounce earlier this year. ^[28]
One jeweller in KL recently quoted about RM595 per gram for 916 gold and RM640 per gram for 999 gold, compared with roughly RM485 per gram a year earlier — a jump of more than RM100 per gram in under a year. ^[29]

While prices have eased slightly from October’s peaks above US$4,350 per ounce, they remain historically elevated, and Malaysian analysts still see a chance of further gains into 2026. ^[30]

Bangladesh and Other Markets

Bangladesh‑focused outlets and global rate tables also confirm high but steady prices today:

Probashirdiganta publishes a gold price live chart for 23 November 2025, listing updated rates for 18K, 21K and 22K gold in taka; while the full tables are behind a 403 barrier for some regions, the site frames today as part of 2025’s broader upward trend. ^[31]
Goodreturns’ “major countries” table shows 24K gold per gram around BDT 16,150.70 in Bangladesh and PKR 37,621 in Pakistan, converted into rupees, underlining how local currency weakness magnifies the impact of global gold gains. ^[32]

Market Sentiment: Mixed on Wall Street, Bullish on Main Street

Opinion on gold’s next leg is far from unanimous:

A weekly survey cited in Vietnam’s Baonghean article shows only about 15% of professional analysts expecting higher gold prices next week, while 31% forecast a decline and 54% see prices moving sideways. ^[33]
Retail investors, by contrast, are notably more optimistic: in the same survey, 61% of individual respondents predicted higher prices, with just 19% expecting a fall. ^[34]

Several named analysts quoted in that report argue that:

Gold has “bounced from the $4,000 support zone” and could trade in a $4,000–$4,200 range in the near term.
Central bank buying and structural inflation risks provide a strong long‑term floor, even if there is room for short‑term corrections. ^[35]

Meanwhile, Malaysian jewellers interviewed by The Straits Times say many customers see gold as a hedge against inflation and currency volatility, with some expecting local gram prices to reach RM700–RM1,000 by 2026. ^[36]

Key Levels and Events to Watch After Today

Based on current coverage and analysis, traders and long‑term investors are watching several signposts:

Technical Levels on XAU/USD
- Support: Around $4,035, with additional support near $3,998–$3,965.
- Resistance: First around $4,132, then $4,170 and $4,211.
  Gold is compressing near the apex of a symmetrical triangle, making a breakout in either direction increasingly likely if volatility spikes. ^[37]
US Macro Data and Fed Communications
- Upcoming PMI readings and University of Michigan consumer sentiment are seen as potential catalysts; weaker‑than‑expected data could pressure the dollar and boost gold, while stronger prints might reinforce the case for higher-for-longer rates, weighing on bullion. ^[38]
Equity Market Liquidity and Risk Appetite
- FXEmpire’s analysis emphasizes that tightening liquidity and stretched equity valuations have already driven some capital out of stocks and into gold. A deeper equity correction or further signs of economic slowdown could accelerate this rotation, supporting gold even at high nominal prices. ^[39]
Central Bank and ETF Flows
- With ETF holdings up sharply this year and central banks still accumulating, any slowdown or acceleration in these flows — often visible in monthly or quarterly reports — may set the tone for gold’s medium‑term trend. ^[40]

Quick FAQ: Gold Price Today – 23 November 2025

1. What is the gold price today in USD per ounce and per gram?
As of Sunday, 23 November 2025, most live feeds place spot gold around $4,065 per ounce, with a typical range of $4,060–$4,080 depending on the source and time of quote. This corresponds to roughly $130–$131 per gram for 24K gold. ^[41]

2. Is gold up or down today?
Gold is slightly lower than recent highs, down around 0.3–0.4% versus yesterday, but remains close to record territory and substantially higher than six months or a year ago. ^[42]

3. Why is gold still so expensive in local currencies?
Two main reasons:

Global prices are near historic highs after a powerful multi‑month rally.
Currency depreciation in markets like Pakistan, Bangladesh and parts of Asia means that even small moves in XAU/USD translate into outsized changes in local prices, especially once duties and taxes are added. ^[43]

4. Is this article investment advice?
No. This piece is intended for information and news purposes only. Gold prices are volatile and influenced by complex macroeconomic factors. Anyone considering investing in gold, or in any financial asset, should consult a qualified financial adviser and consider their own objectives, risk tolerance and local regulations.

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