Gold Price Today, 24 November 2025: XAU/USD Hovers Above $4,050 as Fed Rate‑Cut Bets Collide with Strong Dollar

Gold is starting the week in a tug‑of‑war between aggressive expectations for a December US Federal Reserve rate cut and a stubbornly strong dollar, keeping spot prices just above the psychologically important $4,000 per ounce mark on Monday, 24 November 2025.

Most live feeds show spot gold trading roughly between $4,050 and $4,080 an ounce, after slipping in early Asian trade and recovering modestly in European hours. Investing.com reports spot prices around $4,052–$4,053 per ounce, down about 0.3% in Asian dealings, while December futures were off roughly 0.7%. ^[1] A Reuters‑derived update carried by Egypt‑based Amwal Al Ghad similarly cites spot around $4,055–$4,056, also down 0.3% in early Monday trade. ^[2]

Later in the morning, other feeds (including RTT and Reuters) show spot edging back toward $4,070 per ounce, with US futures hovering just above $4,100 as the market steadies after two sessions of losses. ^[3] Real‑time retail feeds aimed at US consumers, such as JM Bullion and GoldBuyersUSA, also place live spot prices in a tight band around $4,060–$4,085, underscoring how narrow today’s range has been so far. ^[4]

Despite the noise, one message is clear: gold remains comfortably above $4,000, even as the macro backdrop grows more complicated.

Global Gold Snapshot – 24 November 2025

Because different data providers snapshot prices at different times, numbers vary slightly. Taken together, today’s reports paint this picture:

Spot gold (XAU/USD)
- Early Asian session: around $4,052–$4,056 per ounce, down ~0.3% on the day. ^[5]
- Late morning London / early US: roughly $4,064–$4,071 per ounce, with some feeds calling it marginally higher on the session. ^[6]
- Day’s indicated range from major FX/commodity portals: approximately $4,040–$4,078 so far. ^[7]
US gold futures (December 2025)
- Quotes cluster in the low $4,050s to just above $4,100 per ounce, depending on the time of snapshot. Some early‑session reports show futures down around 0.7%; later updates have them slightly firmer. ^[8]
Change vs previous close
- Most early‑day newswires (Investing.com, Business Standard, Amwal Al Ghad) describe an initial drop of about 0.3% as Monday trading got under way. ^[9]
- Some later‑morning datasets (TradingEconomics, US retail bullion feeds) show a marginal rebound, with moves of roughly ±0.1% around flat. ^[10]

In short, gold is essentially flat to slightly lower on the day, drifting sideways above $4,000 while markets digest a flood of new macro information.

India Gold Rate Today (24 November 2025)

India’s bullion market is echoing the soft tone in international prices. Multiple Indian outlets report modest declines in both MCX futures and physical retail rates.

MCX gold

On the Multi Commodity Exchange (MCX), December gold futures slipped by about ₹1,477 or 1.19% to roughly ₹1,22,714 per 10 grams, according to a city‑rate wrap from The Times of India. ^[11]

All‑India average (24k, 22k, 18k)

The Financial Express’ “Gold Pulse” segment summarises the all‑India move as follows: ^[12]

24K gold:
- ~₹123,610 per 10 grams, down ₹950 (‑0.76%) from the previous close.
22K gold:
- ~₹113,309 per 10 grams, down ₹870.80 (‑0.76%).
18K gold:
- ~₹92,708 per 10 grams, a fall of ₹712.50 (‑0.76%).

The same report notes that 24K gold in Dubai is around ₹112,816 per 10 grams equivalent, meaning Indian 24K gold is about 9.6% costlier than in Dubai once import duties and local factors are included. ^[13]

Major Indian city rates (per gram)

Using GoodReturns data carried by The Indian Express and The Times of India, today’s broad pattern is: ^[14]

Delhi
- 24K: ~₹12,528/g
- 22K: ~₹11,485/g
- 18K: ~₹9,400/g
- Day‑on‑day change: roughly ₹71 lower per gram for 24K.
Mumbai
- 24K: ~₹12,513/g
- 22K: ~₹11,470/g
- 18K: ~₹9,385/g
Chennai
- 24K: ~₹12,567/g
- 22K: ~₹11,520/g
- 18K: ~₹9,610/g
- Chennai shows a slightly bigger drop (over ₹100 per gram in some purities), reflecting local premiums. ^[15]
Bengaluru, Hyderabad, Kolkata, Pune and several other metros share similar levels to Mumbai, with 24K near ₹12,513/g and 22K around ₹11,470/g.

For Indian buyers, the takeaway is that today is a mildly cheaper day to buy jewellery than Friday, but prices remain near historically elevated rupee levels.

Gold Price Today in the US and Other Key Markets

Beyond India, retail‑oriented sites show relatively small overnight moves, consistent with the global spot picture:

United States (per ounce)
- A US‑facing price portal tracking jewellery and bullion quotes reports gold at about $4,064 per ounce, down only around $1 (‑0.02%) from yesterday’s level in an early‑morning New York update. ^[16]
United States (per gram)
- GoodReturns’ US grid lists 24K at roughly $133.50 per gram, 22K at $126.50, and 18K at $103.50 for 24 November 2025. ^[17]
Indonesia (gold jewellery)
- In Jakarta, Pintu News reports 9‑carat jewellery at IDR 1,160,000 and 18‑carat at IDR 2,046,000, based on price lists from major jeweller The Palace. ^[18]
Live global feeds (USA‑based sites)
- JM Bullion’s live ticker shows spot around $4,083 per ounce (+0.27%) at about 06:22 ET, underscoring how quickly intraday moves can flip from a small loss to a small gain. ^[19]

Different feeds use different benchmarks (London spot, Comex front‑month futures, internal indices), but all agree that prices are oscillating just above $4,000 per ounce, with no dramatic trend move yet today.

Why Is Gold Moving Today?

1. Fed December rate‑cut bets surge – but that’s a double‑edged sword

A central theme in today’s gold coverage is sharply higher market odds of a US rate cut at the Federal Reserve’s 9–10 December meeting.

An Investing.com commodities note says traders now price roughly a two‑thirds chance of a 25‑basis‑point cut in December, up from about 40% last week, after New York Fed President John Williams signalled scope for further easing and pointed to risks in the labour market. ^[20]
CoinCentral, citing derivatives market data, puts that probability even higher in some measures, around 67–72%, characterising the move as a sharp reversal in sentiment versus last week. ^[21]

Normally, rate‑cut hopes are good news for gold, because the metal pays no interest and becomes more attractive when yields fall. But today, that bullish factor is colliding with two headwinds.

2. The US dollar is near a six‑month high

Several reports highlight that the US dollar index remains close to six‑month highs, limiting gold’s ability to rally: ^[22]

RTT notes the dollar hovering near recent peaks even as gold steadies around $4,070. ^[23]
Indian media (including The Financial Express and The Times of India) emphasise that a “firm dollar index” is a key reason rupee gold has fallen today. ^[24]

Because gold is priced in dollars, a stronger greenback makes bullion more expensive for buyers in other currencies, often depressing demand and pushing prices lower even when rate‑cut odds rise.

3. Risk appetite is improving as ceasefire hopes and equities rise

Gold is also feeling pressure from better risk sentiment:

Investing.com describes a recovery in equities and other “risk” assets as a key reason safe‑haven demand for gold eased in Asian trade. ^[25]
CoinCentral and other outlets report that news of US–Ukraine work on a revised ceasefire plan with Russia has cooled some geopolitical anxiety, further reducing the need for classic havens like gold. ^[26]

At the same time, there are still lingering worries about government finances and a tense diplomatic backdrop in Asia (including a China–Japan spat), which several articles say are helping keep gold from falling far below $4,000. ^[27]

4. Heavy US data calendar after shutdown delays

Another theme is data uncertainty:

Both Investing.com and CoinCentral stress that a wave of delayed US economic reports — industrial production, capacity utilisation, PPI, retail sales, building permits, durable goods orders, jobless claims, Q3 GDP and the Fed’s preferred PCE inflation gauge — will all hit between Monday and Wednesday after a prolonged government shutdown. ^[28]

With so much data arriving at once — and no October readings yet in hand — analysts argue that the Fed is “flying blind” into its December meeting, which is keeping both bond yields and gold somewhat range‑bound until clearer signals emerge. ^[29]

Technical Picture: $4,000 as the Line in the Sand

Technical strategists are broadly in agreement that gold remains in a consolidation phase, even after this year’s historic break above $4,000.

FXEmpire’s technical note says spot XAU/USD is coiling inside a symmetrical triangle, with potential breakout zones around $4,250 on the upside and roughly $3,900 on the downside. ^[30]
LiteFinance’s intraday analysis describes a short‑term downtrend, noting that Monday’s price action has already hit a first bearish target near $4,053, with a projected next target around $3,998 if selling pressure resumes. A more severe break could open the way toward roughly $3,945–$3,915, while a rebound through resistance near $4,148–$4,163 would signal renewed upside. ^[31]
A DailyForex‑style outlook summarised today as “gold fluctuating around $4,000 with choppy, low‑volume price action” suggests traders are bracing for a larger move once the incoming US data clarifies the macro picture. ^[32]

The common thread is that $4,000 remains a key psychological and technical floor, while the $4,200–$4,250 zone acts as a medium‑term ceiling. A clean break on either side of this band would likely trigger heavier trend‑following flows.

Medium‑Term Outlook: Still Bullish, but More Divided

Even as gold chops sideways today, the bigger debate is about 2026 and beyond.

A widely circulated Economic Times summary of a Bank of America survey of professional fund managers shows: ^[33]

Only about 5% expect gold to trade above $5,000 per ounce by end‑2026.
Roughly one‑third expect prices to settle between $4,000 and $4,500.
Another similar share sees $4,500–$5,000 as plausible.
Crucially, about one‑third believe gold will drop back below $4,000, with a sizable minority expecting it to fall into the $3,500–$4,000 band.

The World Gold Council’s Weekly Markets Monitor, also dated 24 November, emphasises a striking “K‑shaped” divergence between gold and Bitcoin this year. While cryptocurrencies have suffered sharp drawdowns, Asian investors — particularly in South Korea, China and Japan — have continued pouring money into local gold ETFs as a hedge against equity volatility and geopolitical risks. ^[34]

In India, The Financial Express notes that many analysts expect gold to face near‑term pressure from the firm dollar and fading geopolitical tensions, with calls for flat to slightly weaker prices over the next three to five weeks if no fresh shocks emerge. ^[35]

The message for investors: long‑term structural demand for gold remains intact, but the near‑term path could be bumpy, especially if the Fed does not cut as aggressively as current markets hope.

What Today’s Move Means for Different Buyers

Short‑term traders (XAU/USD, futures)

Volatility is compressed: Monday’s range near $4,040–$4,080 is tight given how dramatic this year’s rally has been. ^[36]
Many technical analysts are waiting for a breakout from the current triangle / range before committing to bigger positions.
The US data avalanche mid‑week could be the catalyst for that breakout in either direction.

Long‑term investors

Despite today’s slight pullback, gold is still trading well above the $4,000 level it first crossed this year, supported by sticky inflation concerns, high public debt and central‑bank buying. ^[37]
Survey data show divided expectations for 2026, suggesting that position sizing and diversification matter more than precise price targets right now.

Jewellery buyers (India and Asia)

In India, today’s 0.7–1.2% dip in local prices versus Friday offers a small but noticeable saving for wedding‑season purchases, particularly in metros like Delhi, Mumbai and Chennai. ^[38]
In Indonesia, price lists from major chains show stable but elevated IDR levels, mirroring the global picture rather than signalling any local crash. ^[39]

For household buyers, the key point is: this is a minor pullback within a much larger uptrend, not a collapse.

Key Takeaways for 24 November 2025

Gold is trading in a narrow range above $4,050 per ounce, with most feeds showing the metal flat to slightly lower on the day. ^[40]
Fed rate‑cut expectations for December have jumped to roughly 65–70%, but the benefit for gold is being offset by a strong US dollar and improving risk appetite. ^[41]
Indian gold rates are down around 0.7–1.2% from the previous close, with 24K prices in major cities mostly near ₹12,500 per gram and MCX futures weaker. ^[42]
Technical analysts see $4,000 as crucial support and $4,200–$4,250 as major resistance, with a breakout in either direction likely once this week’s US macro data lands. ^[43]
Looking beyond today, expert opinion on 2026 is sharply divided, with many seeing gold staying near or modestly above $4,000, and a meaningful minority warning of a potential drop back below that level. ^[44]

Disclaimer: This article is for information and news purposes only and does not constitute investment advice. Gold and other commodities can be volatile, and anyone considering investing should assess their risk tolerance and, where appropriate, seek independent financial advice.

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