Gold Just Had Its Best Day Since August, Back Above $4,000
A weaker dollar and lower Treasury yields lifted bullion as traders priced in less policy uncertainty and stronger demand ahead of key U.S. labor data.
- On Wednesday, November 4, 2026, gold and silver prices surged in New York as Democrats won control of both houses of the US Congress, triggering a dollar slide that lifted demand for precious metals.
- Both metals hit 12-month lows on October 30, with gold at 3,875 and silver at 49.07, setting the stage for a sharp rebound when the post-election dollar weakness emerged.
- Gold prices surged 3% to $4,047 per ounce on Wednesday, while silver jumped to near $52 per ounce, pushing gold back above the psychologically important $4,000 threshold.
- The dollar index eased 0.37% to 101.49 and the US 10-year Treasury yield fell 5 basis points to 4.90%, while the BSE Sensex advanced 0.50% to 77,301 following the election.
- Polymarket data shows a 93% probability that gold touches $4,100 in November, though the metal faces a critical test when US jobs data arrives on Friday.
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The prices of future gold contracts closed high, above $4,000 per ounce-troy, favored by the search for secure assets in the midst of the wave of sales of shares of companies linked to artificial intelligence (IA). The movement reflects fears of greater regulation of the sector after the victory of the Democrats in the mid-term elections in the United States. At Comex, metal division of the New York Mercantile Exchange (Nymex), the gold with del…
Gold returns above the $4,100 threshold after the mid-term U.S. elections, under conditions where central banks continue to increase their reserves, and the demand for yellow metal to...
Gold could continue to benefit from the fall in real interest rates, which is now accentuated by the victory of the Democrats in the United States. Readers of the Momentum investment letter have been able to benefit massively from the rise in gold and gold mining stocks in recent years.
As the U.S. midterm elections established a power-sharing structure between the administration and Congress, mixed price trends emerged in global precious metals and raw materials markets, including gold, silver, copper, and nickel. While copper and tin prices fell, the prices of precious metals, as well as aluminum, zinc, and nickel, rose. On the 5th, on Investing.com, precious metals and non-ferrous metals
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