{"id":3807,"date":"2026-11-04T13:03:48","date_gmt":"2026-11-04T08:03:48","guid":{"rendered":"https:\/\/ipp-news.com\/?p=3807"},"modified":"2026-11-04T13:03:48","modified_gmt":"2026-11-04T08:03:48","slug":"gold-jumps-over-2-on-softer-dollar-after-democratic-midterm-wins","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=3807","title":{"rendered":"Gold jumps over 2% on softer dollar after Democratic midterm wins"},"content":{"rendered":"<div>\n<p><strong>Gold prices rose \u200c2% on Wednesday, supported by a weaker US dollar after Democrats secured key victories in <a rel=\"noopener noreferrer\" target=\"_blank\" class=\"link--external\" href=\"https:\/\/www.reuters.com\/world\/us\/elections\/\">midterm elections<\/a>, while investors looked ahead to non-farm payrolls data later this week for clues on the \u200bFederal Reserve\u2019s policy path.<\/strong><\/p>\n<p>Spot gold climbed 2.2% to $4,016.01 per ounce, \u200bwhile US gold futures for December delivery rose 2.2% to $4,026.90.<\/p>\n<p>\u201cA weaker USD and \u2060a punchy decline in both nominal and real US Treasury yields are clearly providing \u200bsupport for gold,\u201d said Chris Weston, head of research at Pepperstone.<\/p>\n<p>Additionally, \u201cthe demand for protection \u200bagainst a potentially more unpredictable and confrontational Trump administration looks to be providing a compelling backdrop for gold buyers,\u201d Weston added.<\/p>\n<p>Global stocks slumped, and the dollar softened on Wednesday as Democrats scored \u200ba decisive win in the US midterm elections.<\/p>\n<p>A softer dollar makes greenback-priced bullion more \u200baffordable for buyers overseas.<\/p>\n<p>On the geopolitical front, Iran and the United States are still far from \u200ca \u2060deal to end their war, a senior Iranian official told <a rel=\"noopener noreferrer\" target=\"_blank\" class=\"link--external\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/irans-foreign-minister-says-talks-with-saudi-arabia-are-ongoing-yemen-fighting-2026-11-03\/\">Reuters<\/a> on Tuesday, as Trump declined to rule out resuming US combat operations after the elections.<\/p>\n<p>Traders currently see a 79% chance that the Fed will raise rates in December, according to CME\u2019s FedWatch tool. Higher \u200binterest rates increase the \u200bopportunity cost of \u2060holding non-yielding bullion, reducing its appeal to investors.<\/p>\n<p>Markets now await the US non-farm payrolls report due on Friday.<\/p>\n<p>\u201c$4,000 is the obvious \u200bresistance level \u2014 and a break (on) either side of that range could \u200bdictate gold\u2019s \u2060next decent move,\u201d said Matt Simpson, senior market analyst at StoneX.<\/p>\n<p>India\u2019s gold demand is expected to fall to a six-year low in 2026, as elevated prices weigh on jewellery sales \u2060and \u200binvestment demand moderates, the <a rel=\"noopener noreferrer\" target=\"_blank\" class=\"link--external\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-2026-gold-demand-seen-falling-six-year-low-price-rise-2026-11-03\/\">World Gold Council (WGC)<\/a> said on Tuesday.<\/p>\n<p>Among \u200bother metals, spot silver gained 3.8% to $51.67, platinum 2.8% to $1,455.71 and palladium climbed 3.8% to $969.49.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices rose \u200c2% on Wednesday, supported by a weaker US dollar after Democrats secured key victories in midterm elections, while investors looked ahead to non-farm payrolls data later this week for clues on the \u200bFederal Reserve\u2019s policy path. Spot gold climbed 2.2% to $4,016.01 per ounce, \u200bwhile US gold futures for December delivery rose 2.2% to $4,026.90. \u201cA weaker USD and \u2060a punchy decline in both nominal and real US Treasury yields are clearly providing \u200bsupport for gold,\u201d said Chris Weston, head of research at Pepperstone. Additionally, \u201cthe demand&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-3807","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3807"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3807\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}