Gold and silver extended their rally after Democrats won control of both chambers of Congress in the U.S. midterm elections, with the two metals adding a combined $1 trillion in market capitalization, according to The Kobeissi Letter. Gold rose 2.94% to about $4,045.68 on Wednesday, while silver gained 4.39% to roughly $51.97 an ounce. The article links the move to a weaker dollar and lower Treasury yields as investors reassess the fiscal outlook under a divided government, and notes that the Federal Reserve's rate outlook remains a key variable for non-yielding assets such as gold and silver. It highlights four ETFs to watch: SPDR Gold Shares (GLD), ProShares Ultra Gold (UGL), Direxion Daily Gold Bull 2X ETF (UGLD) and ProShares Ultra Silver (AGQ).
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Related tickers and likely impact
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: medium
| 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: medium
| 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% |
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 11/04/2026 | 4,060.57 |
| Change that session | +3.32% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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