Gold Falls More Than $110 an Ounce in a Day; Vietnam Dong Equivalent Declines
Spot gold closed at $3,878.4 an ounce on November 12, down $110.7 in a day. Rising oil prices, a stronger dollar and higher U.S. Treasury yields added pressure. On the morning of November 13, gold was worth about 121.1 million Vietnamese dong per tael at Vietcombank’s selling exchange rate.
At the New York market close on November 12, spot gold stood at $3,878.4 an ounce, down $110.7 from the previous session, a decline of nearly 2.8%. It had briefly fallen to just over $3,850 an ounce during the session, its lowest level since October 2025. Spot silver closed at $50.2 an ounce, down 3.1%. December gold futures on the COMEX closed at $3,885.3 an ounce, down 2.9%.
International gold prices over the past month, in U.S. dollars per ounce.（VietVance）
Gold came under pressure as expectations for U.S. interest rates shifted. The U.S. Labor Department’s Consumer Price Index report on November 10 was higher than expected, raising concerns that the Federal Reserve would raise rates in December and keep them elevated. Pricing in the interest rate futures market put the probability of a 0.5 percentage point increase at nearly 15%, up from nearly 11% in the previous session.
Renewed concerns about the U.S.–Iran conflict pushed Brent crude futures in London up more than 3% on November 12, reinforcing expectations of inflation and high interest rates. That day, the Dollar Index rose 0.25% to close at about 103.2, while the yield on the 10-year U.S. Treasury rose to 5.125%, up more than 13 basis points from the previous session. The stronger dollar and higher Treasury yields put further downward pressure on gold. SPDR Gold Trust sold a net 0.4 metric tons of gold that day, reducing its holdings to 1,040.7 metric tons.
At 7:20 a.m. Vietnam time on November 13, spot gold in Asian markets had rebounded to $3,886 an ounce and spot silver stood at $50.3 an ounce, both up 0.2% from the U.S. market close. Converted at Vietcombank’s selling rate of 25,870 Vietnamese dong per U.S. dollar at the time, spot gold was worth about 121.1 million dong per tael, down 2.9 million dong from the previous morning.
Source: VietVance
