Gold Soars as Dollar Weakens After US Polls
A weaker dollar and lower Treasury yields lifted bullion, while Indian retail prices rose ahead of Dhanteras, traders said.
- 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.
54 Articles
54 Articles
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.
The decline of the dollar index to its lowest level in 5 weeks following the US midterm elections has driven gold prices to record highs. Gram gold, which closed yesterday with a 3.59% increase, is trading at 6,636 Turkish Lira today, while quarter gold is selling for 10,930 Turkish Lira.
Business Recorder
Business TimesGold hits a two-week high as dollar, Treasury yields ease after US midterm elections
Gold prices climbed nearly 2% to a two-week high on Thursday, supported by a weaker US dollar and lower US Treasury yields in the wake of a Democratic midterm election wave. Spot gold rose 1.9% to $4,134.83 per ounce by 0316 GMT, hitting its highest since October 22. Bullion climbed about 3.4% on Wednesday, its biggest daily gain since August 19. US gold futures for December delivery climbed 1.8% to $4,144.20. Dollar edges lower as US election o…
The weakening of the dollar and the fall in bond yields following the Democrats' victory in the US midterm elections supported gold. The price of gold per ounce rose 1.9% to $4,140.83, while the selling price of gold per gram reached 6,654.09 TL.
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