What was the gold price on November 3, 2020?

Gold closed at approximately $1,908.30 per troy ounce on November 3, 2020 — about $61.35 per gram and $715.62 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 3, 2020?

Gold rose about 0.97% on November 3, 2020 versus the previous trading session — moving from $1,889.90 to $1,908.30 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 3, 2020

International XAU/USD gold closed at $1,908 per troy ounce on this date, equivalent to $61.35 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$715.62

1 Mashaماشہ

1/12 Tola

0.972 g$59.64

1 Rattiرتی

1/96 Tola · gemstones

0.1215 g$7.45

1 Vori (Bhori)ভরি

Bangladesh

11.664 g$715.62

1 Ana (Anna)আনা

1/16 Vori

0.729 g$44.73

Metric & Global

3 units

UnitWeightPrice (USD)

1 Gramg

Worldwide standard

1 g$61.35

1 Kilogramkg

Bulk trade

1,000 g$61,353

1 Troy Ounceoz t

LBMA bullion standard

31.1035 g$1,908

East & Southeast Asian

6 units

UnitWeightPrice (USD)

1 HK Tael兩

Hong Kong, Macau

37.429 g$2,296

1 CN Tael兩

Mainland China

31.25 g$1,917

1 Mace錢

1/10 HK Tael

3.7429 g$229.64

1 Candareen分

1/100 HK Tael

0.37429 g$22.96

1 Bahtบาท

Thailand

15.244 g$935.27

1 Luong (Lượng)lượng

Vietnam

37.5 g$2,301

Middle Eastern

2 units

UnitWeightPrice (USD)

1 Mesghalمثقال

Iran

4.6083 g$282.73

1 Mithqalمثقال

Saudi, UAE, Egypt

4.25 g$260.75

Imperial & Western

2 units

UnitWeightPrice (USD)

1 Pennyweightdwt

1/20 Troy Oz

1.55517 g$95.41

1 Graingr

1/480 Troy Oz

0.064799 g$3.98

How to read this historical table

Every price above is derived directly from the international XAU/USD spot rate on this date ($1,908/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 3, 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 3, 2020

Gold rose 0.97% from the prior trading session ($1,889.90 → $1,908.30 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.

Tuesday — a normal trading day. Tuesday is also when the CFTC publishes Commitments of Traders data for the prior week, often producing intraday movement.

Day 308 of 366 · Q4 2020 · 84.2% 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.