Updated 14 November 2026, 13:30 GMT. Spot gold was at $3,879 an ounce late on Friday, up 0.14 percent on the day but heading for a weekly loss of nearly 4.5 percent (FXStreet, 20:23 GMT). On Thursday it fell to $3,852, its lowest level of 2026. Markets are closed for the weekend. Verdict: gold ends the week pinned near its lows by a 5.15 percent US 10-year yield and a dollar at a 19-month high; the Fed minutes on Wednesday are the main event for the metal next week. Reference levels: $4,000 above, $3,800 below.
Key facts
- Late Friday: $3,879, up 0.14 percent on the day; Friday’s low was $3,867 (FXStreet, 13 November, 20:23 GMT).
- The week: down nearly 4.5 percent (FXStreet), from about $4,071 at the previous Friday’s close (Bullion Trading LLC).
- Year low: $3,852 on Thursday 12 November, the lowest of 2026.
- Fed pricing: about a 90 percent chance of a 25 basis point rate rise in December and 10 percent for 50 basis points (CME FedWatch via FXStreet). The decision is on 9 December.
- Yields and dollar: US 10-year yield 5.15 percent; dollar index 103.41 after a 19-month high of 103.42 (FXStreet).
- Inflation this week: October CPI beat forecasts on Tuesday; October producer prices rose 0.3 percent on the month and 6.5 percent on the year on Friday (Bureau of Labor Statistics).
Why gold had its worst week since June
The selling was about interest rates. A hotter than expected October CPI on Tuesday moved the market towards a Fed rate rise in December, and gold fell to $3,852 on Thursday. Friday’s producer price report was slightly softer than forecast, and gold edged up, but it did not change the picture: FedWatch still showed a December rise as close to certain.
Gold pays no interest, so a higher policy rate and a 10-year Treasury yield above 5 percent raise the cost of holding it. A strong dollar adds pressure because gold is priced in dollars. Fed officials gave no sign of backing off. FXStreet reported that San Francisco Fed President Mary Daly sees the need for more rate rises and that Boston Fed President Susan Collins is concerned that inflation is spreading. Our Friday gold page covers the PPI report in detail, and our Wednesday page the CPI reaction.
Oil is part of the inflation story. Brent settled Friday at $95.84 a barrel; our Brent week-ahead page has the levels.
The week ahead for gold
The US calendar is lighter than this week, but each release feeds the December decision.
- Tuesday 17 November, 8:30 a.m. ET: October retail sales. Forecasts range from flat (Admiral Markets) to a 0.2 percent rise (Newsquawk). Strong spending would support the case for a rate rise.
- Tuesday 17 November, after the close: Nvidia’s results. A bad reaction in tech shares can spill into other markets; our Nvidia week-ahead page covers the setup.
- Wednesday 18 November, 2:00 p.m. ET: minutes of the Fed’s October meeting, when rates were left unchanged. Traders will look for how many officials already wanted to raise rates.
- Thursday 19 November, 8:30 a.m. ET: weekly jobless claims, with a consensus of 200,000 (Admiral Markets).
- Friday 20 November: final University of Michigan consumer sentiment, consensus 51.0 (Admiral Markets).
Where the levels are
FXStreet’s analysis puts the first resistance at $3,900, then Thursday’s high of $4,000 and $4,100. The 50-day simple moving average is at $4,154. On the downside, the year’s low of $3,852 comes first, then the round number of $3,800 and, further down, $3,500.
There is some support from flows. Kitco reported on Friday Société Générale’s estimate that gold could see about $3.3 billion of buying from index rebalancing after its decline. Money Metals’ Mike Maharrey called the fall a chance for long-term buyers, while agreeing that the short-term picture is weak.
Gold price: bull, base and bear for the week ahead
| Scenario | Gold | What has to happen | Anchor |
|---|---|---|---|
| Bear | $3,800 | Strong retail sales and hawkish minutes push yields higher, and the $3,852 low breaks. | FXStreet’s next support below the year’s low; about 2.0 percent below $3,879. |
| Base | $3,852-$3,900 | Data come in close to forecasts and gold holds its lows without a real rebound. | Thursday’s low and FXStreet’s first resistance. |
| Bull | $4,000 | Soft data or a split in the minutes lowers the odds of a December rise, and the dollar eases. | Thursday’s high of $4,000; about 3.1 percent above $3,879. |
The bear case sits below the current price. These are reference levels measured from Friday’s late price, not forecasts.
Quick take: Gold ended the week near $3,879, down nearly 4.5 percent and just above Thursday’s 2026 low of $3,852. Markets see a December Fed rate rise as almost certain, the 10-year yield is at 5.15 percent and the dollar is at a 19-month high. Retail sales on Tuesday and the Fed minutes on Wednesday are next. $3,800 is the downside reference, $4,000 the upside.
FAQ
What is the gold price today?
Gold markets are closed on Saturday. Spot gold was at about $3,879 an ounce late on Friday 13 November, up 0.14 percent on the day (FXStreet). Trading resumes on Sunday evening, New York time.
Why did gold fall this week?
Hot US inflation data raised expectations of a Fed rate rise in December, which pushed the 10-year Treasury yield to 5.15 percent and the dollar to a 19-month high. Higher rates make a non-yielding asset such as gold less attractive.
How much did gold lose this week?
Nearly 4.5 percent, according to FXStreet; Mining.com.au described it as the biggest weekly loss since June. It touched $3,852 on Thursday, the lowest level of 2026.
Will the Fed raise rates in December?
Markets put the chance of a 25 basis point rise at about 90 percent and a 50 basis point rise at about 10 percent (CME FedWatch via FXStreet). The decision is on 9 December.
What could move gold next week?
US retail sales on Tuesday, the minutes of the Fed’s October meeting on Wednesday, jobless claims on Thursday and the market reaction to Nvidia’s results on Tuesday evening.
What are the key gold price levels?
Resistance at $3,900, $4,000 and $4,100, with the 50-day average at $4,154. Support at $3,852, $3,800 and $3,500 (FXStreet).
Sources: FXStreet, 13 November 2026, 20:23 GMT (late Friday price, weekly change, levels, CME FedWatch odds, yields, dollar index, Fed officials); Bullion Trading LLC weekly recap, 6 November 2026 (previous week’s close); Bureau of Labor Statistics (October PPI); Kitco, 13 November 2026 (Société Générale estimate); Mining.com.au (weekly comparison); Money Metals; Admiral Markets and Newsquawk week-ahead calendars, 13 November 2026 (US data dates and consensus); FinanceFeeds gold pages of 11 and 13 November.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Gold prices are volatile. Do your own research and consult a licensed financial adviser before making investment decisions.