Gold prices rebound thanks to buying activity after falling to their lowest level in a year
Gold prices rebound thanks to buying activity after falling to their lowest level in a year
2026-11-13
Shafaq News – Follow-up
Gold prices rose on Friday thanks to buying after hitting their lowest level in more than a year in the previous session, while the market’s focus shifted to upcoming US inflation data.
The price of gold in spot trading rose 1 percent to $3,915.31 an ounce, but it has lost 3.5 percent since the start of the week.
U.S. gold futures for December delivery rose 0.9 percent to $3,919.60.
Gold prices in spot trading reached their lowest level since October 2025 on Thursday, as oil prices rose amid fading hopes of ending the Middle East conflict, raising concerns about rising inflation and interest rates.
According to the CME FedWatch tool, markets see an 89 percent probability of a 25 basis point rate hike in December, while the probability of a larger 50 basis point hike is 11 percent.
Although gold is commonly seen as a hedge against inflation, high interest rates increase the opportunity cost of holding the non-yielding metal, reducing its appeal to investors.
New York Federal Reserve President John Williams said on Thursday that monetary tightening is likely to continue as the U.S. central bank seeks to reduce high inflation levels in an otherwise robust economy.
The number of Americans filing new claims for unemployment benefits rose more than expected last week, but remained at a level consistent with a stable labor market.
Traders are now awaiting the release of the US Producer Price Index data, due at 1330 GMT.
As for other precious metals, silver rose 1% in spot trading to $50.49 an ounce, and palladium climbed 2.1% to $1,014.50. However, both are on track for weekly losses.
shafaq.com
