Global gold prices fall to lowest level in over a year
On November 12, spot gold fell for a third consecutive session, dropping $134 to $3,852 an ounce by 10:30 p.m., its lowest level since October 2025. Oil prices rose after Trump’s remarks on an Iran agreement, while US inflation, interest rate expectations and a stronger dollar also weighed on gold.
At 10:30 p.m. on November 12, international spot gold fell $134 to $3,852 an ounce. It was the third consecutive session of declines, taking gold to its lowest level since October 2025. Silver fell more than 3% to below $50 an ounce, while platinum and palladium lost 1.2% and 3%, respectively.
International gold prices on November 12.（VietVance）
The market fell after US President Donald Trump said on social media that the United States did not need an agreement with Iran. His remarks dashed hopes for an agreement to end the fighting in the Middle East. The conflict had entered its ninth month and spread to other parts of the region.
Jim Wyckoff, a market analyst at American Gold Exchange, said that if the news caused oil prices to rise faster, the resulting inflationary pressure would be negative for gold. Brent and WTI crude were up 1.5% and 0.8%, respectively, at $94 and $87 a barrel. Higher oil prices could strengthen expectations that the Federal Reserve would keep interest rates elevated for longer, making gold less attractive.
Wyckoff added that US inflation data for October showed no sign of cooling, hawkish comments from Federal Reserve officials this week and a 19-month high in the Dollar Index were also weighing on gold. Investors at the time put the probability of a 25-basis-point Fed rate increase in December at 91% and were awaiting the US Producer Price Index, due on November 13, for further clues about inflation and monetary policy.
Source: VietVance
