Gold Price - November 2024
(Prices per ounce)
Start: US $2,756
Close: US $2,650
Highest: US $2,756 (Nov-1)
Lowest: US $2,546 (Nov-14)
NOVEMBER 2024 GOLD SPOT PRICE (US DOLLARS PER OUNCE)
Highlights
November was a highly volatile month for Gold. After four months of uninterrupted gains, gold experienced its first major blow of the year as soon as the uncertainty in connection with the U.S. presidential election results dissipated. Gold started the month of November at US $2,756 / oz and, immediately upon Trump being named on November 6 as indisputable winner in the U.S. elections, gold sharply fell, releasing the pressure accumulated over several weeks in connection with the possibility of disputed election results. As a result, on November 14 gold fell to its lowest level of the month at US $2,546 / oz (a loss of US $210 / oz in just 8 days, equivalent to -7.5%). From that point on, gold started a rapid recovery, not without a good dose of volatility, briefly returning above the US $2,700 / oz level on November 22, followed by a moderate decline that led it to closing the month at US $2,650 / oz on November 30).
The balance of the month was a -3.39% decrease in price, equivalent to a monthly loss of US -$106 / oz. As of November 30, 2024, gold's accrued price performance is:
1-Month: - 3.39%
6-Months: + 13.90%
Year to Date: + 28.49%
1-Year: + 30.18%
5 Years: + 81.03%
In the News
Financial Times - "Gold suffers worst week in 3 years as investors weigh Trump victory".
Barron’s - "Ignore the Selloff in Gold. Trump’s ‘Chaos Grenade’ Win Will Bring Gains".
Morningstar - "Why gold is looking better than stocks in 2025?".
Quote of the Month
"Because gold is honest money, it is disliked by dishonest men."
Ron Paul
U.S. Libertarian author, activist and politician
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