Gold Price Today, 27 November 2025: XAU/USD Hovers Near $4,160 as Fed Rate-Cut Bets and Holiday Lull Shape Trade

Gold is trading in a tight range on Thursday, 27 November 2025, with the global spot price holding just above the psychologically important $4,150–$4,160 per ounce zone. Thin liquidity due to the U.S. Thanksgiving holiday and growing expectations of a Federal Reserve rate cut in December are dominating sentiment across bullion and local jewellery markets.

Global Gold Price Today (XAU/USD)

As of Thursday, 27 November 2025, spot gold against the U.S. dollar (XAU/USD) is broadly steady:

Current XAU/USD exchange rate: around $4,158 per ounce
Day’s trading range: roughly $4,142 – $4,169 per ounce
Previous close: about $4,163.98 per ounce ^[1]

Data from major market trackers show gold trading almost flat to slightly lower, with different providers quoting spot prices in the $4,153–$4,165 band depending on the timestamp and venue. TradingEconomics notes gold at around $4,153 per troy ounce, down about 0.2–0.3% on the day, while still up more than 57% year-on-year. ^[2]

A separate read from JM Bullion puts the live spot price at roughly $4,163 per ounce in early U.S. hours, confirming that the metal is consolidating rather than trending sharply in either direction. ^[3]

In short: globally, gold is treading water around $4,160, within touching distance of recent record highs above $4,300.

Why Gold Is Quiet but Elevated on 27 November 2025

1. U.S. Thanksgiving Holiday = Thin Liquidity

Formal trading on COMEX is closed today for Thanksgiving in the United States, meaning much of the price action is driven by over‑the‑counter flows in Europe, Asia and the Middle East.

Analysts at Fortune Prime Global describe gold as “steady near $4,165 per ounce” with price moves largely confined to a narrow $4,160–$4,170 band, up roughly 0.2% from Wednesday’s close around $4,163.15. ^[4]

Thin volumes can exaggerate intraday spikes but also mean that big directional moves are less reliable until full U.S. participation returns.

2. Fed Rate-Cut Bets Stay in Focus

The main macro story hasn’t changed: markets are increasingly confident the Federal Reserve will cut interest rates in December.

Fortune Prime highlights comments from Fed Governor Christopher Waller, which have pushed market‑implied odds of a December rate cut to around 75%. ^[5]
FXEmpire likewise notes that gold has softened slightly in early European trade but remains supported as traders price in around an 85% chance of a Fed cut, even as risk sentiment improves in equities. ^[6]

Lower rates reduce the opportunity cost of holding a non‑yielding asset like gold, which helps explain why prices remain elevated despite occasional profit‑taking.

3. Dollar Drift and Safe-Haven Demand

A modestly softer U.S. Dollar Index over the last 24 hours has given gold an extra tailwind by making it cheaper in other currencies, according to the same Fortune Prime report. ^[7]

At the same time, ongoing geopolitical tensions and concerns about global growth continue to underpin safe‑haven flows into gold, keeping prices near the top of their multi‑year range.

4. Historic Rally and Silver Outperformance

Gold’s move is also part of a much larger multi‑year rally:

Reuters points out that since October 2023, spot gold has surged around 142%, from a low near $1,813.90 to a record high of about $4,381.21 on 20 October 2025, before easing to just over $4,163 on Wednesday. ^[8]

That same Reuters piece notes that silver has quietly outpaced gold in percentage terms, reminding investors that other precious metals are riding the same macro wave of rate‑cut expectations and demand for real assets. ^[9]

Local Gold Prices Today: India, Dubai, US & Indonesia

While the international XAU/USD quote is the benchmark, most buyers care about local gold rates in grams and local currencies. Here’s how key markets look today.

India: Slight Dip After Strong Gains

Across India, retail gold prices edged lower on Thursday after recent highs.

According to Goodreturns and Angel One:

24K (999) gold: about ₹12,775 per gram, down ₹16 from yesterday
22K gold: about ₹11,710 per gram, down ₹15
18K gold: about ₹9,581 per gram, down ₹12 ^[10]

City‑specific snapshots:

Delhi (Goodreturns & The Hans India):
- 24K gold: roughly ₹12,790 per gram, ₹1,27,900 per 10g, down ₹16/₹160 vs Wednesday
- 22K gold: ₹11,725 per gram, ₹1,17,250 per 10g, down ₹15/₹150 ^[11]
Hyderabad (The Hans India):
- 22K gold: ₹1,17,150 per 10g, down ₹150
- 24K gold: ₹1,27,750 per 10g, down ₹160 ^[12]

Live‑blog data from ET Now shows similar levels across major cities such as Gurgaon, Chandigarh, Dehradun and Trivandrum, with 24K rates clustered around ₹1,27,200–₹1,27,340 per 10g and 22K around ₹1,16,600–₹1,16,750 per 10g. ^[13]

Takeaway for India:
Despite headlines about a “huge drop,” the actual decline is a modest ₹15–₹16 per gram after a powerful multi‑month rally. For wedding‑season buyers, gold is slightly cheaper than Wednesday, but still historically expensive.

Dubai & Wider UAE: Holding Above AED 500 per Gram

Dubai remains one of the most closely watched retail gold hubs, and today’s prices underscore just how strong this year’s rally has been.

Data from Goodreturns and other regional trackers show: ^[14]

Dubai 24K gold: about AED 500.25 per gram, up AED 4.25 vs Wednesday
Dubai 22K gold: around AED 463.25 per gram, up AED 4
Dubai 18K gold: roughly AED 380.75 per gram, up AED 3.25

Gulf News notes that U.S. rate‑cut expectations have pushed Dubai’s 24K rate above AED 500, extending a roughly 60% rally in gold prices in 2025. ^[15]

Goldinforma, converting UAE rates into Indian rupees, estimates:

24K: about ₹12,819.75 per gram
22K: about ₹11,751.44 per gram
18K: about ₹9,614.80 per gram, all higher than yesterday. ^[16]

Takeaway for Dubai/UAE:
Prices are at or near record territory in local currency terms. For residents paid in dirhams, the rally has been relentless, but Dubai’s low VAT and making charges still keep it attractive versus many other markets.

United States: High-Dollar Gold, Rupee Conversion Rising

In the United States, the international spot price around $4,160/oz translates into very high retail prices once fabrication costs and premiums are added.

Goldinforma’s rupee‑converted estimates for U.S. gold prices (based on global spot and FX) are identical to the UAE panel:

24K: ~₹12,819.75 per gram
22K: ~₹11,751.44 per gram
18K: ~₹9,614.80 per gram, all showing sizeable day‑on‑day gains. ^[17]

That underscores how dollar weakness plus bullion strength are pushing up converted values even where dollar‑denominated spot is only flat to slightly lower.

Indonesia: Jewellery Prices Track Global Rally

In Indonesia, Pintu News reports that jewellery prices remain elevated:

9‑carat gold jewellery: about IDR 1,181,000
18‑carat jewellery: around IDR 2,083,000 (per the quoted standard chain model). ^[18]

Retail prices vary with design and workmanship, but the key point is that local jewellery is mirroring the global uptrend in raw bullion.

Intraday Gold Market Tone: Steady but Cautious

Profit-Taking From Two-Week Highs

Not all of today’s headlines are outright bullish. A report from Amwal Al Ghad notes that gold edged lower on Thursday as some traders booked profits near a two‑week high:

Spot gold: down about 0.3% to $4,153.49 per ounce
December U.S. gold futures: around $4,150, off about 0.5% intraday. ^[19]

This fits with the broader picture from Investing.com and TradingEconomics, which show gold still elevated but slightly below Wednesday’s close, consolidating rather than breaking out. ^[20]

Technical Views: Resistance Near $4,160–$4,200

Short‑term technical analysts are divided but generally cautious:

LiteFinance sees gold trading in a short‑term downtrend, with price testing a resistance zone around $4,148–$4,163. They suggest that if this band holds, downside targets could be $4,080 and $3,998; a breakout above would flip the trend and open the door toward $4,298–$4,328. ^[21]
DailyForex notes that gold “opened with strong momentum”, pushing toward $4,200, but warns that the current rally may be distorted by low holiday volume, advising caution about chasing the move before normal liquidity returns. ^[22]

Taken together, the message is: long‑term trend remains up, but near‑term price action could be choppy, especially around key resistance near $4,200 and support zones just below $4,000.

What Today’s Move Means for Investors and Buyers

This section is for information only and is not investment advice.

For Long-Term Investors

Macro backdrop remains supportive:
- Rate‑cut expectations
- Softer dollar
- Ongoing central‑bank and institutional demand (including ETFs and even gold‑backed stablecoins like Tether Gold, which Fortune Prime says bought more physical gold than all central banks combined in Q3). ^[23]
Valuations are rich: With gold up over 57% in the last year, new buyers are entering at historically high prices. ^[24]

If you think central banks will cut rates more aggressively and inflation will stay sticky, these levels may still look attractive over a multi‑year horizon. If you expect a sharp rebound in global growth and a stronger dollar, gold’s upside could be capped.

For Jewellery Buyers (India, Dubai, SE Asia)

Today’s dips in India are small and may feel like minor relief rather than a bargain.
In Dubai and the UAE, prices are at record‑like levels, but still benefit from lower taxes and making charges compared to many other countries.
In Indonesia and other emerging markets, jewellers are adjusting prices almost daily to match the global rally.

For most retail buyers, the decision will be driven more by occasion and budget than by trying to time a ₹15–₹20 per gram intraday move.

For Short-Term Traders

Liquidity is thin due to Thanksgiving; several analysts explicitly warn that signals generated today may be unreliable. ^[25]
Key levels to watch:
- Resistance: $4,160–$4,200, then the area near the October highs above $4,380
- Support: $4,080–$4,000, with deeper support flagged near $3,950 by some technicians. ^[26]

Risk management is crucial: volatility can spike when markets reopen fully after a holiday.

Summary: Gold Price Snapshot for 27 November 2025

Global spot gold (XAU/USD): around $4,150–$4,165 per ounce, broadly flat to slightly lower on the day, still up over 57% year‑on‑year. ^[27]
India: small declines of about ₹15–₹16 per gram across 24K, 22K and 18K gold; Delhi 24K trades near ₹12,790 per gram. ^[28]
Dubai/UAE: 24K holds above AED 500 per gram, extending a powerful 2025 rally fuelled by U.S. rate‑cut expectations. ^[29]
United States & Indonesia: local and jewellery prices remain high, tracking the global spot market and weaker dollar. ^[30]

With holiday‑thinned trading, elevated but steady prices, and Fed speculation still front and centre, gold today is less about dramatic moves and more about quiet consolidation near record territory.

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