Gold in November: how the price has moved since 1971

Each figure here compares November's average gold price with October's, from the World Bank's monthly series, in US dollars per troy ounce. A rise means November's average was above October's; it says nothing about the price on any single day of the month. The same measure for all twelve months is in is there a best month for gold.

We count from 1971. Until the US closed its gold window in August 1971, US dollars were convertible to gold at a fixed $35 an ounce (Federal Reserve History), and from 1961 to 1967 the November average was $35.00 every year.

November from 1971 to 2025

• 26 rises, 27 falls, 2 flat. The flat years, 1971 and 1979, show the same whole-dollar average for October and November; from January 1968 the series gives 703 of its 705 monthly averages in whole dollars.
• Median 0.00%, average +0.05%. November's average change was the lowest of the twelve months, just under March's +0.08%, and its median was level with June's, July's and October's.
• A typical size of 2.53%. Half of the 55 Novembers moved by less than 2.53% either way, and 14 of them by less than 1%.
• Rises and falls of similar size. The 26 rises averaged +3.57% and the 27 falls -3.33%, which is why the average comes out close to zero.

The longest runs were six Novembers in a row each way: falls from 1996 to 2001, then rises from 2002 to 2007.

The largest November moves

The five largest rises, from October's average to November's:

• 1974: +14.47%, $159 to $182
• 1976: +12.07%, $116 to $130
• 2009: +8.05%, $1,043 to $1,127
• 1989: +7.36%, $367 to $394
• 2006: +7.17%, $586 to $628

And the five largest falls:

• 1978: -9.25%, $227 to $206
• 2015: -6.30%, $1,159 to $1,086
• 1986: -6.13%, $424 to $398
• 1997: -5.85%, $325 to $306
• 1999: -5.79%, $311 to $293

From 2016 to 2025, no November moved more than 3.67% either way.

November decade by decade

Each row counts every November in its years, nine in the 1970s from 1971 and six from 2020 to 2025.

The decade medians ran from -1.52% in the 2010s to +2.20% in the 2000s. Over the 26 years from 2000 to 2025, November rose in 15 and fell in 11, and its median of +0.56% was the sixth highest of the twelve months; January's +1.92% was the highest.

Every November since 2000

Newest first: October's and November's monthly averages in US dollars per troy ounce, and the change between them.

A monthly average and a gold trade

A month's average smooths out every day inside it. In our one-minute sample from 26 March to 25 September 2026, gold's median day covered 2.168% of its price from low to high, close to the 2.53% by which a typical November's average moved from 1971 to 2025. A short-term gold trade runs inside those daily swings, and November's history says nothing about where one will go, or about how November 2026 will turn out: the series in our file ends with September 2026, at a monthly average of $4,319.

Our gold signals are short-term trades, each with an entry, a stop and three targets, and the free channel posts a selection of them. How far gold moved inside a day in 2026 is in gold's average daily range, and every year's average since 1960 in gold price by year.

Sources

Gold prices are the World Bank's monthly averages from its Commodity Markets "Pink Sheet", January 1960 to September 2026, in US dollars per troy ounce, with no inflation adjustment. Each November's change is its average divided by October's, minus one, and a change of exactly zero counts as flat. We worked out the counts, medians and averages from that series; they match the November row on the best month page. The daily range is from 130 full trading days of one-minute prices.

• datasets/gold-prices on GitHub, World Bank Pink Sheet monthly averages, Public Domain Dedication and License, read on 24 October 2026
• Federal Reserve History, the end of gold convertibility
• GetData XAU/USD one-minute sample, MIT licence, 26 March to 25 September 2026