Global gold prices fall 3% on November 12 to lowest in more than a year
Global gold prices fell for a third straight session on November 12, 2026, hitting their lowest level since October 2025 during trading. Rising oil prices, stronger than expected US inflation data and expectations of higher interest rates weighed on gold. On the morning of November 13, SJC gold was quoted at 139 million Vietnamese dong per tael for sale in Hanoi.
On November 12, 2026, global gold prices fell about 3%, declining for a third straight trading session and touching their lowest level since October 2025 during trading. At 1:53 p.m. US Eastern time that day, or 1:53 a.m. on November 13 in Vietnam, spot gold was down 2.7% at $3,880.93 an ounce. US gold futures for December 2026 delivery closed down 2.9% at $3,885.30 an ounce.
Gold jewelry on display at a jewelry store in Zhejiang province, China.（VietVance）
Rising oil prices heightened market concerns about inflation and interest rates staying high. US President Trump said the United States did not need an agreement with Iran, drawing attention to prospects for peace in the Middle East. Analysts said recently released US inflation data that exceeded expectations, hawkish remarks by Federal Reserve officials this week and a rise in the dollar to a nearly 19 month high also weighed on gold prices.
Traders currently put the probability of a 25 basis point Federal Reserve rate increase in December 2026 at 87%. The likelihood of a 50 basis point increase has also risen. Higher interest rates reduce the appeal of gold, which pays no interest. Investors are awaiting US producer price index data scheduled for release on November 13.
Other precious metals also fell that day: spot silver declined 3% to $50.12 an ounce, spot platinum fell 1.2% to $1,518.49 an ounce, and spot palladium dropped 3.1% to $995.91 an ounce. On the morning of November 13 in Vietnam, Saigon Jewelry Company quoted SJC gold in the Hanoi market at 136 million Vietnamese dong per tael for purchase and 139 million Vietnamese dong per tael for sale.
Source: VietVance
