Gold in November: Every November Since 1971
Gold has risen in 33 of 55 Novembers since 1971 (60%, against 55% for all months), with an average change of +1.0% and a median of +0.7%. Its best November was 2009 (+13.1%) and its worst 1978 (−20.3%). November ranks 7 of 12 by average change.
Gold in every November, 1971–2025
% change in the monthWhat happens in December after November
How often December rose after gold ended November higher or lower, compared with all months (55% rose).
After a higher November
InconclusiveAfter gold ends November higher, December has risen 64% of the time since 1971 (21 of 33), against 55% for all months, with an average change of +1.4% and a median of +1.4%: a difference, but too few cases to rule out chance.
After a lower November
InconclusiveAfter gold ends November lower, December has risen 45% of the time since 1971 (10 of 22), against 55% for all months, with an average change of +0.8% and a median of −0.3%: a difference, but too few cases to rule out chance.
"Momentum" or "rebound" only when the share differs from all months by at least 5 percentage points, with at least 20 cases, and by more than chance would explain (95% confidence); otherwise "inconclusive". With one month a year, most single-month differences are within chance. The same figures for every month together: gold seasonality.
Gold in November, Year by Year
Month-end close and the change in November, with December next to it.
| Year | Close, end of November | November | December after |
|---|---|---|---|
| 2025 | $4,255 | +6.5% | +2.0% |
| 2024 | $2,657 | −3.4% | −0.6% |
| 2023 | $2,038 | +2.2% | +1.7% |
| 2022 | $1,746 | +6.4% | +4.6% |
| 2021 | $1,774 | −0.6% | +3.1% |
| 2020 | $1,776 | −5.5% | +6.7% |
| 2019 | $1,466 | −3.0% | +3.7% |
| 2018 | $1,220 | +0.7% | +4.8% |
| 2017 | $1,273 | +0.5% | +2.6% |
| 2016 | $1,173 | −8.1% | −1.9% |
| 2015 | $1,066 | −6.6% | −0.5% |
| 2014 | $1,176 | +0.3% | +0.7% |
| 2013 | $1,251 | −5.5% | −3.9% |
| 2012 | $1,726 | +0.4% | −4.0% |
| 2011 | $1,746 | +1.4% | −12.3% |
| 2010 | $1,384 | +2.7% | +1.6% |
| 2009 | $1,176 | +13.1% | −7.5% |
| 2008 | $815 | +11.5% | +6.8% |
| 2007 | $784 | −0.8% | +6.4% |
| 2006 | $647 | +7.1% | −2.3% |
| 2005 | $496 | +5.3% | +3.5% |
| 2004 | $453 | +6.5% | −3.9% |
| 2003 | $398 | +3.1% | +4.5% |
| 2002 | $319 | +0.7% | +8.8% |
| 2001 | $276 | −1.2% | +0.4% |
| 2000 | $269 | +1.7% | +2.0% |
| 1999 | $291 | −2.6% | −0.4% |
| 1998 | $295 | +0.8% | −2.3% |
| 1997 | $297 | −4.7% | −2.2% |
| 1996 | $371 | −2.2% | −0.6% |
| 1995 | $388 | +1.3% | −0.2% |
| 1994 | $383 | −0.2% | 0.0% |
| 1993 | $371 | +0.4% | +5.6% |
| 1992 | $334 | −1.5% | −0.4% |
| 1991 | $366 | +2.5% | −3.6% |
| 1990 | $385 | +1.4% | +0.4% |
| 1989 | $408 | +8.8% | −2.3% |
| 1988 | $423 | +2.5% | −2.9% |
| 1987 | $493 | +5.1% | −1.7% |
| 1986 | $390 | −2.9% | −0.2% |
| 1985 | $325 | +0.1% | +0.5% |
| 1984 | $329 | −1.3% | −6.3% |
| 1983 | $405 | +6.0% | −5.6% |
| 1982 | $436 | +3.0% | +4.8% |
| 1981 | $415 | −2.9% | −4.1% |
| 1980 | $620 | −1.5% | −4.8% |
| 1979 | $416 | +8.8% | +23.2% |
| 1978 | $193 | −20.3% | +16.9% |
| 1977 | $160 | −0.9% | +3.1% |
| 1976 | $130 | +5.8% | +3.3% |
| 1975 | $138 | −3.3% | +1.5% |
| 1974 | $184 | +10.2% | +1.4% |
| 1973 | $101 | +3.1% | +11.1% |
| 1972 | $63.60 | −1.2% | +2.0% |
| 1971 | $43.60 | +3.0% | 0.0% |
In the calendar in November
- Dhanteras and Diwali in some years.
- US elections fall in early November in even-numbered years: what gold did after every one
- Black Friday.
Events that fall in the month; they do not explain any single year's move.
Gold by Month
Gold in November: FAQ
Is November a good month for gold?
Gold has risen in 60% of Novembers since 1971 (33 of 55), against 55% for all months, with an average change of +1.0%. November ranks 7 of 12 months by average change. In the last 10 years it rose 5 times. Seasonal patterns are not a reliable guide to any single year.
What was gold's best November?
2009, when gold rose 13.1%. The worst was 1978 (−20.3%).
What happens to gold in December after a higher November?
After gold ends November higher, December has risen 64% of the time since 1971 (21 of 33), against 55% for all months, with an average change of +1.4% and a median of +1.4%: a difference, but too few cases to rule out chance.
What happens to gold in December after a lower November?
After gold ends November lower, December has risen 45% of the time since 1971 (10 of 22), against 55% for all months, with an average change of +0.8% and a median of −0.3%: a difference, but too few cases to rule out chance.
History, not advice: past monthly patterns do not predict any single month. Data to 26 October 2026.
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@misc{corgano2026goldinnovemberevery, author = {{Corgano}}, title = {Gold in November: every November since 1971}, howpublished = {\url{https://goldprice.corgano.com/gold-in-november}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-27}}