Gold extended its losses on Nov. 3 after a brief rebound, as a stronger US dollar and rising Treasury yields weighed on the metal while investors awaited US midterm election results. Spot gold fell 0.5% to $3,927.49 an ounce after dipping as low as $3,893.31 during the session, and US December gold futures slipped 0.8% to $3,936.80. Oil prices dropped about 2% to a three-week low as markets weighed prospects for ending the conflicts in Ukraine and Iran. Analysts said a decisive Democratic win in both chambers could pressure the dollar and support gold, while CME FedWatch showed the probability of a Fed rate hike in December at 73%, down from 76% earlier that day. The World Gold Council cut its 2026 gold investment demand forecast to 200 tonnes from 400 tonnes but raised its forecast for central bank purchases, after central banks net bought 321 tonnes in the three months to the end of September.
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Related tickers and likely impact
PAXG/USDT
▼ Likely negativePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.7B |
| Close on 11/03/2026 | 3,946.40 |
| Change that session | -0.16% |
XAUT/USDT
▼ Likely negativeTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.1B |
| Close on 11/03/2026 | 3,934.56 |
| Change that session | -0.11% |
XAU/USD
▼ Likely negativeRelevance: medium
| Market | Gold |
|---|---|
| Close on 11/03/2026 | 3,930.22 |
| Change that session | -0.42% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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