Gold price falls 3% to a more-than-one-year low, near $3,880

What happened. On Thursday, November 12, gold fell about 3%. It was the third straight losing session. Reuters says spot gold dropped 2.7% to $3,880.93 an ounce by 1:53 p.m. ET, after touching its lowest level since October 2025 earlier in the day. Anadolu puts the drop at 2.8%, to $3,880 as of 18:00 GMT. Bloomberg says bullion was near $3,880 after falling nearly 3% and briefly hitting a 13-month low. US December gold futures settled 2.9% lower at $3,885.30.

The numbers. USA Today reports spot gold at $3,875.55 at 1:05 p.m. ET, down 2.61% from the previous close of $3,979.29. That is almost level with the 52-week low of $3,875.36. A year ago an ounce cost $4,191.16, and a week ago $4,086.58. The 52-week high in the same table is $5,518.21, and the current price is 29.77% below it. Sources sample different times of day, so the figures differ a little.

Why it happened. Reuters lists several drivers. A hot US inflation reading came on Tuesday, Fed officials sounded hawkish this week, and the dollar rallied to near a 19-month high. According to CME FedWatch, quoted by Reuters, traders see an 87% chance of a 25-basis-point rate hike in December, and the odds of a larger 50-basis-point move also rose. Anadolu adds that US inflation rose to 4% in October, with consumer prices up 0.4% on the month against 0.3% expected. Bloomberg says yields on some Treasuries jumped more than 12 basis points, with the biggest moves in short-term ones. Reuters also says fading hopes for a Middle East peace deal fanned fears of higher inflation and interest rates.

How it works. Gold pays no income. When rates rise, bonds and deposits pay more, so holding a metal that pays nothing looks less attractive. A strong dollar adds pressure because gold gets pricier for people who count in other currencies.

What next. US producer price data (PPI) is due on Friday. It could move rate expectations either way. How gold behaves after hitting this low is not known yet.

Fatos confirmados

• Gold slid 3% on Thursday, November 12, 2026, extending losses for a third straight session to a more-than-one-year low.^[1][2]
• Spot gold dipped 2.7% to $3,880.93 an ounce by 1:53 p.m. ET, after touching its lowest level since October 2025 earlier in the session.^[1]
• Anadolu reports spot gold down 2.8% at $3,880 an ounce as of 18:00 GMT.^[2]
• Bloomberg says bullion was near $3,880 an ounce after falling nearly 3% and briefly hitting a 13-month low.^[3]
• US December gold futures settled 2.9% lower at $3,885.30 an ounce.^[1]
• USA Today put spot gold at $3,875.55 at 1:05 p.m. ET, down 2.61% from the $3,979.29 close, against a 52-week low of $3,875.36 and a 52-week high of $5,518.21.^[4]
• A year ago gold traded at $4,191.16 an ounce, and a week ago at $4,086.58.^[4]
• The US dollar rallied to a near 19-month high, according to Reuters.^[1]
• Traders see an 87% chance of a 25-basis-point Fed rate hike in December, and the odds of a 50-basis-point move also increased.^[1]
• A hot US inflation reading came on Tuesday, and Fed officials made hawkish remarks this week.^[1]
• Anadolu reports US inflation rose to 4% in October, with consumer prices up 0.4% on the month against 0.3% expected.^[2]
• Yields on some Treasuries jumped by more than 12 basis points on Thursday, most in short-term securities.^[3]
• Reuters says fading hopes for peace in the Middle East spurred fears of higher inflation and elevated interest rates.^[1]
• Higher interest rates reduce the appeal of non-yielding bullion.^[1][2]
• US producer price index data is due on Friday.^[1]

Implicações

• ConfirmadoGold is at its lowest level since October 2025, as confirmed by Reuters, Anadolu and Bloomberg.
• ConfirmadoThe dollar and Fed rate expectations are the main pressures on gold right now, per the sources. Friday's PPI data could shift those expectations.
• Nossa leituraA fall in the dollar price of gold does not translate one to one into your local currency, because your exchange rate against the dollar also matters. This is our inference.

Ainda não se sabe

• Whether gold keeps falling or steadies after this low.
• Whether the Fed will in fact raise rates in December: the 87% is a market bet, not a decision.
• What Friday's US PPI data will show.
• Where spot gold finished the day: sources quote different times.

Quem é afetado

Global, United States. Anyone following the gold price, the dollar and Fed decisions

Fontes

1. Reuters: Gold drops to over one-year low as fading Middle East peace hopes fan inflation fears 12 de novembro de 2026 · mídia
2. Anadolu Agency: الذهب يتراجع 2.8 بالمئة ويلامس أدنى مستوى منذ أكتوبر 2025 12 de novembro de 2026 · mídia
3. Bloomberg: Gold Holds Drop to Near One-Year Low as Rate-Hike Bets Increase 12 de novembro de 2026 · mídia
4. USA TODAY: Gold Price Today: Gold Falls 2.61% on November 12, 2026 12 de novembro de 2026 · mídia