Forecast of Gold Price Trend in November 2025

Forecast of gold price trend in November 2025

1. Current gold price level

As of November 25, 2025, the spot gold price was trading at $4,140 per ounce, and once rose to a high of about one and a half weeks in the day. The retail price of domestic brand jewelry is generally in the range of 1100-1300 yuan/gram, among which the gold price of brands such as Chow Tai Fook and Lao Fengxiang is about 1321 yuan/gram.

2. Trend analysis in November

In November, the gold price fluctuated widely, and the international gold price fluctuated in the range of 3850-4180 USD/oz. At the beginning of the month, affected by the expected cooling of the Federal Reserve's interest rate cut, the price of gold once fell under pressure, but then rebounded because the market expected to cut interest rates in December.

3. Influencing factors

The bullish factors: the global central bank's continuous purchase of gold (902 tons in the first three quarters of 2025), the trend of dollarization, and the geographical uncertainty support the gold price.Negative factors: Fed officials have different attitudes towards interest rate cuts, the dollar is stronger, and technical overbought correction.

4. Future prospects

The short-term gold price may remain volatile, but it is still supported by the central bank's purchase of gold and dollarization in the medium and long term. If the gold price is close to below $3,800 per ounce, it may attract institutions to open positions. It is necessary to focus on the resolution of the Federal Reserve meeting in December and the confirmation of trends by non-agricultural data.