What was the gold price on November 1, 2020?

Gold closed at approximately $1,866.30 per troy ounce on November 1, 2020 — about $60.00 per gram and $699.87 per tola. This is the international XAU/USD spot price; local retail rates add import duties, taxes and dealer making charges.

Did gold rise or fall on November 1, 2020?

Gold fell about 0.83% on November 1, 2020 versus the previous trading session — moving from $1,881.90 to $1,866.30 per ounce.

Why did gold drop in November 2020?

Breakthrough COVID-19 vaccine results — starting with Pfizer–BioNTech on November 9 — sent investors out of safe-haven gold and into riskier reopening trades, pushing prices down toward $1,775.

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Historical Unit Breakdown

Gold Price in Every Weight Unit — November 1, 2020

International XAU/USD gold closed at $1,866 per troy ounce on this date, equivalent to $60.00 per gram. The table below converts that reference value into every major regional gold weight unit — from the South Asian Tola, Masha and Rattito Bangladesh's Vori, Thailand's Baht, Vietnam's Lượng, Iran's Mesghal, and the Chinese Tael, Mace and Candareen.

South Asian

5 units

UnitWeightPrice (USD)

1 Tolaتولا · तोला

Pakistan, India, Nepal

11.664 g$699.87

1 Mashaماشہ

1/12 Tola

0.972 g$58.32

1 Rattiرتی

1/96 Tola · gemstones

0.1215 g$7.29

1 Vori (Bhori)ভরি

Bangladesh

11.664 g$699.87

1 Ana (Anna)আনা

1/16 Vori

0.729 g$43.74

Metric & Global

3 units

UnitWeightPrice (USD)

1 Gramg

Worldwide standard

1 g$60.00

1 Kilogramkg

Bulk trade

1,000 g$60,003

1 Troy Ounceoz t

LBMA bullion standard

31.1035 g$1,866

East & Southeast Asian

6 units

UnitWeightPrice (USD)

1 HK Tael兩

Hong Kong, Macau

37.429 g$2,246

1 CN Tael兩

Mainland China

31.25 g$1,875

1 Mace錢

1/10 HK Tael

3.7429 g$224.58

1 Candareen分

1/100 HK Tael

0.37429 g$22.46

1 Bahtบาท

Thailand

15.244 g$914.68

1 Luong (Lượng)lượng

Vietnam

37.5 g$2,250

Middle Eastern

2 units

UnitWeightPrice (USD)

1 Mesghalمثقال

Iran

4.6083 g$276.51

1 Mithqalمثقال

Saudi, UAE, Egypt

4.25 g$255.01

Imperial & Western

2 units

UnitWeightPrice (USD)

1 Pennyweightdwt

1/20 Troy Oz

1.55517 g$93.31

1 Graingr

1/480 Troy Oz

0.064799 g$3.89

How to read this historical table

Every price above is derived directly from the international XAU/USD spot rate on this date ($1,866/oz) using fixed weight constants — 1 troy ounce = 31.1035 g, 1 tola = 11.664 g, 1 baht = 15.244 g, 1 lượng = 37.5 g, 1 mesghal = 4.6083 g, and so on. These multipliers are mathematical, not market estimates, so the conversions are exact.

Prices are shown in US dollars only. Historical local-currency gold rates depended on the exchange rate at the time (November 1, 2020 rates for PKR, INR, AED and others were materially different from today). For an accurate same-date local-currency value, see the country-specific archive link below this section when available.

The figures are pure metal value at international parity — they do not include the import duty, VAT/GST, jeweller making charges, or dealer margin that would have applied at retail counters on this date. For wedding-jewellery or coin pricing context, retail in 22K commonly added 5–15% on top of the spot value shown here.

On this day — November 1, 2020

Gold fell 0.83% from the prior trading session ($1,881.90 → $1,866.30 per ounce).

Diwali: The Hindu festival of lights is the largest annual gold-buying event in India. Dhanteras (two days before Diwali) is specifically dedicated to buying gold and silver. India sees billion-dollar surges in jewellery sales over the five-day Diwali season.

Sunday — the international gold market is closed. Spot quotes carry forward from the prior Friday close. Retail rates in jewellery markets may differ slightly based on local Sunday hours.

Day 306 of 366 · Q4 2020 · 83.6% through the year

November 2020 gold market: Vaccine breakthroughs knock gold lower

Bearish

The year's worst month as vaccines triggered a risk-on rotation.

November delivered gold's worst month of 2020. A series of highly effective COVID vaccine announcements, beginning with Pfizer–BioNTech on November 9, rotated investors out of safe havens and into reopening trades, pulling gold down to roughly $1,775.

The vaccine news was a textbook 'good news is bad news' moment for gold. By dramatically improving the economic outlook, the breakthroughs reduced the need for safe-haven insurance and lifted bond yields, both headwinds for a non-yielding asset. Yet the drop to ~$1,775 never threatened the structural bull case — money supply was still surging and real yields stayed deeply negative. Buyers who treated the vaccine dip as an opportunity rather than a top were vindicated within weeks.

What drove gold in November 2020

Pfizer/Moderna vaccine breakthroughs
rotation into risk assets
rising bond yields
gold-ETF outflows

Themes#COVID vaccines#risk-on rotation#reopening trade

Key events in November 2020

Nov 9Pfizer announces 90%+ vaccine efficacy; gold drops hard
Nov 16Moderna vaccine data adds to the safe-haven selloff

What happened next

Gold recovered through December as fresh stimulus and a weak dollar reasserted the bull case.

For gold buyers

The vaccine-driven drop to ~$1,775 was the year's second great entry point for long-term buyers who looked past the reopening euphoria.

Key terms this month

Risk-on / risk-off:: Market sentiment shifts: 'risk-on' favours stocks and cyclicals; 'risk-off' favours safe havens like gold.
Good news is bad news:: When improving economic news hurts an asset — here, vaccines lifting yields weighed on gold.