Headline: Gold Jumps as Bitcoin Pulls Back; Dollar Softens in Choppy North American Trade
In a split session for risk assets, North American markets on November 12, 2025 saw gold surge through a key technical level while Bitcoin reversed early strength. The US dollar eased into the close, longer-dated Treasury yields hovered near 4.07%, and oil prices slid, even as US equities edged higher amid sector rotation.
Currencies traded in tight ranges for most of the day, with the greenback firming into the New York open before fading. USD/JPY briefly tested the 155 handle, then retraced as lower oil prices tempered inflation expectations. A soft 10-year US Treasury auction nudged yields higher intraday before settling near 4.07%. On the day, CHF outperformed while JPY lagged. Equities were broadly flat to modestly higher, with a sharp rally in semiconductor shares offsetting weakness in some mega-cap tech names.
Precious metals and crypto moved in opposite directions. Spot gold spiked more than $70 intraday, breaking above $4,200 before easing to around $4,194 into the close, keeping it perched near a significant retracement level. WTI crude fell $2.59 to $58.45 after OPEC signaled the oil market could approach balance in 2026. Bitcoin, meanwhile, surrendered early gains—slipping from above $105k and briefly trading near $100,880—reflecting profit-taking as stocks opened. Policy headlines added noise: the US House set an evening vote on government funding, raising uncertainty around the timing of macro releases, with officials flagging the possibility that October CPI and payrolls may not be published. Fed commentary leaned restrictive, with remarks on tight policy settings and future reserve expansion, while Canada’s data pulse remained resilient with September building permits up 4.5%.
Key Points – Date: North American trading, November 12, 2025 – Gold rallied roughly $67 to around $4,194 after briefly topping $4,200 – Bitcoin reversed early gains, slipping from above $105k toward ~$100.9k – US 10-year Treasury yield hovered near 4.07% after a soft auction; USD mixed to softer – WTI crude fell $2.59 to $58.45; OPEC projects a more balanced oil market in 2026 – US House held a shutdown vote; data releases remain uncertain; Fed speakers flagged restrictive policy and future reserve needs; Canada building permits rose 4.5%
