International Gold Price Falls Below $3,900 on Evening of November 12
On the evening of November 12, international spot gold fell as low as $3,885 per ounce, down $100 from the previous session’s reference price. Higher than expected U.S. inflation and comments from Federal Reserve officials raised expectations of a December rate increase, while a stronger dollar added pressure. Markets will watch the U.S. producer price index due on November 13.
On the evening of November 12, 2026, Vietnam time, international spot gold prices fell sharply, at one point reaching $3,885 per ounce, down $100, or about 2.5%, from the previous session’s reference price. Gold had fallen below $3,900 per ounce and was also below the earlier $4,000 threshold.
International spot gold fell as low as $3,885 per ounce on the evening of November 12.（VietVance）
Before gold came under pressure, U.S. inflation data had exceeded expectations, and Federal Reserve officials had made hawkish remarks. Reuters said these factors strengthened market expectations that the Fed would raise interest rates in December and pushed the dollar to a 19-month high against major currencies.
A stronger dollar makes dollar-denominated gold more expensive for buyers using other currencies. At the same time, higher interest rates increase the opportunity cost of holding gold, which pays no interest. Although gold is commonly seen as a hedge against inflation, market expectations that the Fed will tighten monetary policy continued to weigh on prices.
Investors will next focus on the U.S. producer price index, scheduled for release on November 13. The data may offer further clues about inflation pressures and affect market expectations for Fed policy. For the remainder of the trading session, movements in the dollar and interest rate news will remain key factors to watch for gold prices.
Source: VietVance
