Goldify Pro
Live Gold Rates & Tools
On this day — November 24, 2023
Friday — typically a higher-volatility close to the week. US monthly non-farm payrolls publish on the first Friday of each month at 8:30 AM ET, the single most-watched economic data release for gold.
Day 328 of 365 · Q4 2023 · 89.9% through the year
November 2023 gold market: Rate-cut hopes power a year-end run
BullishFalling yields and 2024 rate-cut bets fuelled a strong run.
Gold held firm near $2,000 in November and pushed higher as falling Treasury yields, a softer dollar, and growing conviction that the Fed was done hiking revived rate-cut expectations for 2024. Cooling inflation data sealed the dovish shift.
What drove gold in November 2023
- falling Treasury yields
- softer US dollar
- cooling inflation data
- building 2024 rate-cut expectations
Key events in November 2023
- Nov 14Cooler US CPI cements peak-Fed bets; gold strengthens
What happened next
Momentum carried gold to a record intraday high in early December.
For gold buyers
November confirmed the trend turn — with the Fed seen as done, gold's path of least resistance was higher.
Nov 24 across the years — 2020 → 2022
| Year | Nov 24 close | vs prior | |
|---|---|---|---|
| Nov 24, 2022 | $1,755.40 | -1.50% | View |
| Nov 24, 2021 | $1,782.10 | -0.97% | View |
| Nov 24, 2020 | $1,799.60 | — | View |