Gold Price Today, 14 November 2025: Spot Gold Holds Above $4,170 as Dollar Softens

Gold is trading just below recent record highs on Friday, 14 November 2025, with spot prices holding comfortably above $4,170 per ounce as a weaker US dollar and lingering economic uncertainty keep demand for the metal strong. ^[1]

Below is a detailed, news-style breakdown of today’s gold price, the key drivers behind the move, and what’s happening in major physical markets like India and Asia.

Live gold price on 14 November 2025

Global spot price (XAU/USD)

Spot gold (XAU/USD) was roughly $4,169–$4,185 per ounce this morning.
- Reuters reported spot gold at $4,169.58/oz at 09:30 GMT, after touching an intraday high of $4,211.06 earlier in the session, leaving bullion up about 4.3% so far this week. ^[2]
- Live bullion dealer quotes show spot gold around $4,183.05/oz at 05:12 ET, confirming that prices are hovering in the high‑$4,100s and moving only modestly intraday. ^[3]
Intraday, data providers show gold trading roughly between $4,161 and $4,211 today, underlining elevated but relatively contained volatility compared with yesterday’s sharp swings. ^[4]

Gold futures (COMEX)

On the futures side, December 2025 COMEX gold (GCZ5) is trading slightly softer than Thursday’s settlement:
- Investing.com cites a current futures price of about $4,165.92, down around 0.7% on the day, with a trading range between $4,162.72 and $4,214.25 so far. ^[5]
- CME Group data shows a recent last trade near $4,176.9, also fractionally lower on the session. ^[6]

Overall, futures and spot prices are tightly aligned, reinforcing a picture of consolidation just below the $4,200 mark rather than a dramatic breakout or sell‑off.

How today compares with yesterday

On Thursday, 13 November, gold was extremely volatile:
- Spot gold hit an intraday high of $4,244.94 before sliding to about $4,151.86, a 1.1% daily loss after the US government reopened following a record 43‑day shutdown. ^[7]
- US gold futures for December settled at $4,194.50 yesterday, versus around $4,185–$4,176 today. ^[8]

Put simply: gold is slightly below Thursday’s peak but still near multi‑week highs and firmly higher on the week.

Why is the gold price moving today?

1. Weaker US dollar, but mixed Fed signals

The main macro driver today is a softer US dollar, which makes gold cheaper for holders of other currencies and generally supports higher bullion prices. Multiple outlets, including Reuters and FX-focused news sites, report that gold remains on track for a solid weekly gain thanks to the weaker dollar and risk‑off sentiment in broader markets. ^[9]

At the same time, hawkish comments from US Federal Reserve officials have cooled some of the enthusiasm for aggressive rate cuts in December:

Reuters notes that traders now see roughly a 49% probability of a 25‑basis‑point Fed cut in December, down from the mid‑60% range earlier this week, according to CME’s FedWatch tool. ^[10]
This shift has trimmed gold’s intraday gains but hasn’t been enough to trigger a deep sell‑off, given elevated macro uncertainty. ^[11]

Because gold doesn’t pay interest, it tends to benefit when rate‑cut expectations rise and real yields fall; conversely, more hawkish Fed rhetoric can cap the upside, which is exactly what markets are grappling with today. ^[12]

2. After the record US government shutdown, markets are “flying blind”

The reopening of the US government after a record 43‑day shutdown has changed the narrative around safe‑haven demand: ^[13]

Earlier in the week, gold surged as investors bet that delayed and potentially weak economic data would push the Fed toward further easing. ^[14]
Once a shutdown-ending deal was signed, there was a “buy the rumour, sell the news” reaction, with gold briefly dropping about 1% on Thursday as some safe‑haven positions were unwound. ^[15]
However, with data still disrupted and the economic impact of the shutdown unclear, uncertainty remains high, and analysts argue that the overall macro backdrop still favours gold. ^[16]

3. Risk‑off mood and global uncertainty

Analysts across FXEmpire, EBC and FXLeaders highlight a broader risk‑off mood:

Global equity markets are under pressure, and volatility remains elevated, pushing some investors toward gold and silver as hedges. ^[17]
Geopolitical concerns, questions about US fiscal sustainability, and worries about slowing growth in China and Europe continue to underpin safe‑haven demand for gold. ^[18]

Put together, this creates a tug of war: hawkish Fed talk and profit‑taking vs. a weaker dollar and strong safe‑haven flows. Today, the net result is sideways-to-slightly-firmer prices near $4,170–$4,200.

How today’s gold price fits into the bigger trend

Near record highs

Despite today’s small pullback from the intraday high, gold remains close to record territory:

Energy-focused coverage notes that gold hit an all‑time high above $4,381/oz on 20 October 2025, driven by geopolitical tensions and expectations of looser monetary policy. ^[19]
EBC analysis estimates that gold is around 57–59% higher year‑on‑year as of mid‑November 2025, a remarkable surge for a traditionally “slow” asset. ^[20]
TradingEconomics data shows gold is down only about 1.08% over the past month, underlining that recent moves are more of a consolidation than a reversal. ^[21]

Weekly performance

According to Reuters, spot gold is up about 4.3% so far this week, even after trimming some gains today. ^[22]
Other commodity desks put the weekly gain between roughly 4.6% and 5%, depending on the exact time and quote source. ^[23]

In practice, that means gold is ending the week strong, just a little below Thursday’s intraday spike above $4,240. ^[24]

Physical gold markets today: India and Asia

India: record‑high rupee prices and big discounts

India, one of the world’s largest gold consumers, is seeing the impact of high global prices very clearly today.

Domestic prices:
- The Indian Express reports 24‑carat gold at around ₹12,785 per gram in Mumbai, with similar levels in Delhi, Kolkata and several other major cities. ^[25]
- Other Indian outlets show comparable figures, with 22‑carat gold near ₹11,720 per gram and 18‑carat around ₹9,589, underscoring how expensive gold has become for retail buyers. ^[26]
Physical demand & discounts:
- A separate Reuters “Asia gold” report notes that Indian dealers are offering discounts of up to $43 per ounce to official domestic prices (including taxes), versus about $14 last week, as high prices sharply curb demand. ^[27]
- Domestic prices are cited around ₹126,900 per 10 grams, about 6.5% higher than last week’s low, further squeezing buyers. ^[28]
Retail sentiment:
- Jewellers in India report a noticeable drop in store footfall and sales after Diwali, blaming sticker shock from record‑high prices. ^[29]
- The India Bullion and Jewellers Association (IBJA) has also raised concerns about policy loopholes in platinum‑alloy jewellery imports that effectively allow duty‑free gold inflows, potentially distorting local trade. ^[30]

Asia ex‑India: subdued buying at high prices

Reuters’ regional roundup paints a similar picture across Asia:

In China, bullion is trading between about an $8 discount and a $4 premium to global spot prices, with analysts describing the market as being in “pause mode” as buyers wait for a clearer correction. ^[31]
In Singapore, physical gold trades at a $1.50–$3.50/oz premium, while Hong Kong premiums range from $0.50 to $2.50. Japanese buyers are seeing prices at par or with very small premiums. ^[32]

Overall, high global prices mean strong investment interest but cautious jewellery demand, especially in price‑sensitive markets.

Technical view: key gold levels to watch

Technical analysts are focused on a cluster of important support and resistance zones around current prices.

Immediate resistance and upside targets

FXEmpire notes that spot gold has repeatedly tested a $4,150–$4,200 resistance band, with a convincing break above $4,250 likely opening the door to new all‑time highs. ^[33]
EBC’s latest gold outlook highlights:
- Immediate resistance around $4,130–$4,140,
- Next major upside area around $4,200–$4,250,
- And “extended” bullish targets above $4,300 if momentum accelerates. ^[34]

Support zones

Below the market, analysts emphasise a series of support levels:
- Psychological and technical support near $4,000/oz,
- A deeper floor around $3,960,
- And stronger structural support closer to $3,900 if a larger correction unfolds. ^[35]

As long as gold holds above the $4,000–$4,030 region, several technical commentaries still classify the broader trend as bullish, with pullbacks seen more as consolidations than reversals. ^[36]

Corporate angle: high gold prices squeeze jewellers, but luxury demand holds

High bullion prices are not just a macro story; they are showing up in corporate earnings today:

Swiss luxury group Richemont, owner of Cartier, reported a 14% rise in organic sales in the July–September quarter, beating analyst forecasts despite what it called “unprecedented headwinds” from currency moves, rising gold prices and US tariffs. ^[37]
The company’s ability to pass on higher input costs and still grow sales suggests that high‑end jewellery demand remains resilient, even as mass‑market buyers in Asia are pulling back. ^[38]

This contrast—luxury resilience vs. retail caution—mirrors the broader gold market: investment and high‑income demand are strong, while price‑sensitive jewellery demand is under clear pressure.

What local analysts in India are saying (MCX gold)

For traders in India tracking MCX gold futures, local technical commentary today leans slightly cautious:

A detailed Times of India outlook describes fading upside momentum on intraday charts, with weakening RSI and flattening moving averages.
The article flags resistance near ₹1,27,200 and key support around ₹1,26,100–₹1,25,600, characterising the short‑term bias as “sell on rise” within that range for active day traders. ^[39]

Those levels and strategies are specific to MCX contracts in India, not to global spot gold, and represent the view of that outlet’s analysts rather than a universal recommendation.

What today’s gold price means for investors and buyers

For investors and traders

Gold is expensive in historical terms, up close to 60% over the past year and not far below its recent record above $4,380. ^[40]
The macro backdrop—weak data, fiscal concerns, and post‑shutdown uncertainty—still broadly favours safe‑haven assets, but the Fed’s more cautious tone has clearly injected headline‑driven volatility. ^[41]
Analysts emphasise that future moves will hinge on upcoming US data releases, Fed communication, and the path of the dollar and real yields, rather than on today’s levels alone. ^[42]

If you follow gold regularly, the key things to watch over the next few days are:

Fresh US economic data as it trickles out after the shutdown,
Any shift in Fed officials’ rhetoric on the December meeting,
The US dollar index and long‑dated Treasury yields,
And signals from physical markets in Asia about whether buyers are returning at these high prices.

Important: The information in this article is for news and educational purposes only and does not constitute financial or investment advice. Gold prices are volatile, and decisions to buy or sell should be based on your own research, risk tolerance and, ideally, professional guidance.

For jewellery buyers

Retail buyers in India and other Asian hubs are facing very high local prices, with domestic rates near record rupee levels and dealers offering unusual discounts to entice demand. ^[43]
Unless global prices correct meaningfully, wedding and festival‑related buying may stay subdued, even if investment demand via ETFs and coins remains robust. ^[44]

FAQ: Gold price today, 14 November 2025

Is gold up or down today?
Gold is roughly flat to slightly lower intraday, holding around $4,170–$4,185 per ounce after earlier testing above $4,211, but it remains solidly higher for the week. ^[45]

Is gold at an all‑time high today?
No. Gold’s all‑time high was set in October at a little over $4,381/oz. Today’s prices are high by historical standards but still roughly $150–$200 below that peak. ^[46]

Why is gold so high right now?
A combination of factors: lower interest‑rate expectations vs. recent years, a weaker dollar, ongoing geopolitical tensions, concerns about US fiscal health, and strong central‑bank and investor demand have all contributed to pushing gold sharply higher in 2025. ^[47]

What could move the gold price next?
Key catalysts include:

Incoming US inflation and labour‑market data,
Any confirmation or rejection of a December Fed rate cut,
Moves in the dollar and Treasury yields, and
Shifts in physical demand in Asia as buyers react to high prices and discounts. ^[48]

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