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Will the price of gold fall this November?

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The price of a gold investment could change yet again this November.

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Gold investing hit an 11-year high in September 2023 and, at the time, it was easy to understand why. With inflation close to a decades-high and interest rates at their highest point in 22 years, many investors turned to safe-haven assets like gold to protect their portfolios. 

But even though inflation has since declined and one interest rate cut has already been issued this year, the demand for the precious metal has remained remarkably strong. This has been clear by the record price surge gold has experienced so far this year, jumping approximately 33% from where it was on January 1. At that point, gold was just $2,063.73 per ounce. But now it’s hovering near $2,800 with no clear end in sight.

Understanding this, then, both prospective investors looking to get in at a more affordable entry price and current investors benefiting from the remarkable price growth may be wondering about the short-term price trajectory. Specifically, will the price of gold fall this November? That’s what we’ll discuss below.

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Will the price of gold fall this November?

While it’s impossible to predict the price growth of any asset, let alone an alternative one like gold, it’s highly unlikely that the price of gold will fall this November. And there are multiple reasons why both experts expect the opposite to happen. Here’s why:

Geopolitical and domestic concerns: With conflicts abroad and a presidential election looming at home, gold is unlikely to drop in price this November. That’s because gold tends to maintain its value and even rise in price during volatile periods marked by geopolitical and domestic tensions, as we’re seeing now and are likely to continue to see in the months to come. Against this backdrop, then, don’t be surprised to see gold break additional records in the final weeks of 2024 – not fall in price.

Rising demand: Rising demand for an asset tends to cause the price to rise, not sink. And as can be seen with retailers like Costco running out of gold bars to sell, demand for physical gold, in particular, is elevated right now. Against this backdrop, it would be surprising for the price of gold to fall or even stagnate. Another uptick in November is more likely to happen.

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New dynamics: Those who invested in gold during the most recent inflationary cycle – and benefited from the protection it provided – understand that inflation can and will return again. And that could be at an unexpected moment, as has been seen in recent years. With new investors and new knowledge about gold investing prevalent, then, a drop in the price of the metal appears unlikely, at least not until the economy fully recovers from this recent high rate/high inflation period. And that won’t completely happen in November. 

The bottom line

In short: No, the price of gold is unlikely to fall this November. Because of these reasons and for a series of others, gold’s price is likely to continue to rise, at least in the short-term. That noted, many investors may be better served by getting started now versus waiting for an ideal entry point that never materializes. Remember that, long-term, gold prices only rise. So the “expensive” entry point for buying into gold today could become tomorrow’s “cheap” alternative. 

Don’t wait to act. Get started with gold online today.



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Harris to tackle Texas’ abortion ban in Houston rally with Beyoncé, Willie Nelson

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Harris to tackle Texas’ abortion ban in Houston rally with Beyoncé, Willie Nelson – CBS News


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In a rally Friday night in Houston, Texas, Vice President Kamala Harris will argue that Texas’ near total abortion ban is endangering pregnant women. Beyoncé and Willie Nelson are set to appear alongside Harris. Nancy Cordes reports from the campaign trail.

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China-backed hackers targeted Trump, Vance, sources say

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China-backed hackers targeted Trump, Vance, sources say – CBS News


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Federal authorities believe China-backed cyber criminals attempted to tap into phones or networks used by former President Donald Trump and Sen. JD Vance, multiple sources familiar with the matter confirmed to CBS News. Scott MacFarlane has more.

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Climate groups working to mobilize early voters and track new climate voters in battlefield states

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Across Philadelphia, dozens of silver haired, climate-conscious canvassers are going door to door in the last weeks before Election Day, leaving green slips of paper with guides on how to register to vote this year. 

“It’s the most consequential one that I’ve been a part of,” climate canvasser Daniel Carlson told CBS News. “I’ve been voting for four decades.”

Carlson is part of Third Act, a climate activist group for people over 60. The group is trying to mobilize voters on climate change in an election that’s been dominated by worries about the economy, immigration and abortion access.

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Philadelphia — Environmental Voter Project organizer speaks to first time canvassers, October  2024.

CBS News / Seiji Yamashita


CBS News polling has found climate change is “not a factor” for 32% of voters in the presidential race, but for millions, it’s their top issue, according to the Environmental Voter Project, another non-profit group; EVP works on identifying climate-minded voters and get them to the polls.

In particular, EVP focuses on low-propensity climate voters — those who did not vote in the last presidential election and are concerned about climate change. 

Nathaniel Sinnett, executive director of EVP, said, “In Pennsylvania, we’ve identified 245,000 of these voters,” Sinnett told CBS News, and he’s found equally high numbers in other key battleground states where EVP is active. In 2020, Joe Biden’s margin of victory over Donald Trump in Pennsylvania was 80,555.

EVP says it uses predictive modeling and data analytics to identify millions of climate-focused registered voters, and then it relies on voter files to target its efforts toward environmentalists who are registered to vote but who have not been voting. 

“We really like what we’re seeing in the early voting, nearly 130,000 first-time climate voters have already cast ballots in the 19 states where we work,” says Nathaniel Sinnett, executive director of the Environmental Voter Project, or EVP. Five of the states where EVP is tracking voters are battleground states — the group says it has identified hundreds of thousands of low-propensity climate voters in these battleground states:

  • Arizona: 229,311
  • Georgia: 491,369
  • Nevada: 108,694
  • North Carolina: 266,227
  • Pennsylvania: 245,206

Sinnett acknowledged these models and data don’t guarantee a climate vote is a vote for the Democratic ticket, but early voting and environmental voters have historically leaned liberal. 

EVP tracks the voters it’s identified and whether they’ve cast a ballot, and on a more granular level, the group is tallying the climate-focused voters they’ve found who did not vote in 2020 but cast a 2024 ballot during early voting this fall. Based on early voting returns, according to Sinnett, in some battleground states, climate voters are turning out at higher rates than the general electorate.

EVP has identified nearly 230,000 first-time climate voters in Arizona in 2024, and as of Oct. 25, EVP has seen 5,514 of those individuals cast early ballots. In 2020, Arizona was decided by fewer than 11,000 votes. The group is seeing similar returns in other battleground states and hopes its efforts will help nudge climate-friendly candidates to victory.

“Climate voters are not the largest voting bloc in the country,” said Sinnett. “But this fall, climate voters can have a real impact on the margins, and in an election where all seven swing states are statistically tied, a little movement in the margins will decide everything.”

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Third Act’s Bill McKibben speaks to a crowd of volunteers at Arch Street Meeting House, October 2024.

CBS News / Seiji Yamashita


Third Act is another environmental group working on turning out climate-concerned voters, but its focus is on older Americans. It was founded by Bill McKibben, an environmentalist who has written more than a dozen books on the topic and has organized climate protests all over the world. Although climate politics is often associated with young voters, McKibben thinks his generation has a unique perspective, having seen the civil rights movement and the conservation movement of the ’60s, ’70s and ’80s. 

“In the course of our lifetimes, we’ve seen a lot of change, and much of it for the better. You know, when I was born, Kamala Harris and her husband couldn’t have been married in half the states.”

Like EVP, McKibben and his group have run into some reluctance by many climate-minded Americans to show up to the polls. 

“They care deeply about the climate, but maybe they’re just decided there’s nothing that can be done, or whatever it is. So, we’ve got to reach them and just say this isn’t everything,” McKibben told CBS News. “The purpose of an election is not salvation.”

Environmental salvation is likely on Carlson’s mind, though. The 60-year-old is a pastor by day, and he decided to make the trip from Schenectady, New York to Philadelphia to doorknock for the first time — he says he’s trying to do his part to help boost turnout in a consequential election. 

“The world that my generation will leave to the next generation is definitely compromised and damaged in some really considerable respects, but I want to do all that I can to be of as much help as I can to the generations that are to come.”

Helen Grady, 85, a former Philadelphia school teacher, was also motivated to start canvassing when she heard many college students were considering not voting.

“That really angers me, and it frustrates me when I hear somebody say, there’s no point to voting because both sides are broken,” she told CBS News. “I used to tell my high school students, ‘you don’t vote, you can’t complain.'”



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