Precious metals rallied early Tuesday after vote counting in the U.S. midterms pointed to Democrats winning the House, while the dollar index fell about 0.3%. Spot gold rose 2% to $4,005.40 an ounce and spot silver jumped 4% to $51.68, with platinum up 3.3% and palladium up 3.8%. StoneX's Rhona O'Connell said Democratic control of both chambers could bring fiscal brinkmanship and uncertainty, but gold should find support as rates and the dollar may come under pressure. Gold and silver have lost momentum this year, with gold down more than 7% and silver down almost 28% year to date. Capital.com's Daniela Hathorn said the recovery remains fragile, as restrictive monetary policy limits safe-haven demand and investors may sell metals to raise cash during equity selloffs.
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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: high
| Market | Gold |
|---|---|
| Close on 11/03/2026 | 3,930.22 |
| Change that session | -0.42% |
DXY
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 101.86 |
| Change that session | +0.06% |
PAXG/USDT
▲ Likely positivePAX 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 positiveTether 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% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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