Gold hits 2-week high

Gold prices rose 2% on Monday, November 10, 2025, hitting their highest level in two weeks.

Spot gold climbed 2% to $4,079.49 per ounce by 0839 GMT, hitting its highest since October 27, while U.S. gold futures for December delivery rose 1.9% to $4,087.80 per ounce.

The dollar index fell 0.1%, making gold more affordable for overseas buyers.

“There are concerns regarding the United States economy because of the weak data, and the main focus remains on the dollar index,” a senior research analyst at Reliance Securities, Jigar Trivedi, said.

Trivedi added that safe-haven buying has also increased due to the persisting trade war and geopolitical tensions, aiding bullion.

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Data last week showed the U.S. economy shed jobs in October, with losses in the government and retail sectors, while businesses cutting costs and adopting artificial intelligence contributed to a surge in announced layoffs.

Additionally, U.S. consumer sentiment fell to its lowest level in nearly 3-1/2 years in early November, weighed by worries over the economic fallout from the longest-ever government shutdown, according to a survey released on Friday.

Market participants now see a 65% chance of a Fed rate cut in December.

Gold, which offers no yield, tends to perform well in a low-interest-rate environment and during periods of economic uncertainty.

“Overall, it’s a win-win for gold and the undertone is bullish… we may see levels around $4,120-$4,130 soon,” Trivedi told Reuters.

Elsewhere, spot silver rose 3.3% to $49.91 per ounce, reaching its highest since October 21, platinum rose 2% to $1,576.25, and palladium added 1.7% to $1,403.63.

The Star