Gold held above $4,100 an ounce on Thursday after a Democratic sweep of the U.S. midterm elections pushed the dollar and Treasury yields lower, while Trump downplayed the prospect of renewed strikes on Iran. Spot gold rose 1.8% to $4,132.36 an ounce, silver gained 2.1% to $53.3400, and the U.S. Dollar Index fell 0.3% to 101.31. ANZ analysts said U.S. bonds benefited from expectations that the new political balance would constrain Trump's proposed tax cuts and spending plans, but warned that weaker government borrowing could erode a key support for gold. Oil stayed sharply lower after Brent fell below $100 a barrel on Wednesday. Gold is still more than 20% below its levels before the U.S.-Iran war broke out in late February, and investors are now watching Friday's U.S. nonfarm payrolls report.
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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: high
| Market | Gold |
|---|---|
| Close on 11/04/2026 | 4,060.57 |
| Change that session | +3.32% |
DXY
▼ Likely negativeRelevance: high
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 101.53 |
| Change that session | -0.33% |
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.7B |
| Close on 11/04/2026 | 4,061.47 |
| Change that session | +2.92% |
XAUT/USDT
▲ Likely positiveTether Gold
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.1B |
| Close on 11/04/2026 | 4,050.62 |
| Change that session | +2.95% |
AUD/USD
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 0.70063 |
| Change that session | +0.59% |
EUR/USD
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/04/2026 | 1.12293 |
| Change that session | +0.33% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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