Gold Hits a Two-Week High as Dollar, Treasury Yields Ease After US Midterm Elections
- 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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45 Articles
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.
Gold extends rebound above US$4,100 as dollar and yields decline
Bullion is still down by more than a fifth since the US-Iran war erupted in late February. (EPA images pic)SINGAPORE: Gold extended gains -- after jumping more than 3% on Wednesday -- as a Democratic sweep of Congress in the US midterm elections sent the dollar and Treasury yields lower. Bullion rose as much as 1.9% to trade near US$4,140 an ounce, after rising the most since August in the previous session to back above the US$4,000 support thre…
Gold prices continued to rise during today's Thursdays, exceeding $4,100 per ounce, after a jump of more than 3% at the previous meeting, supported by the decline of the dollar and the proceeds of United States Treasury bonds, following the victory of the Democrats in the midterm elections.
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