10:29 - 5.11.2026

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November 5, Fineko/abcnews. Gold prices extended gains on Thursday, driven by a weakening US dollar and declining Treasury yields following a Democratic sweep of Congress in the US midterm elections. Spot gold advanced 1.7% to trade at $4,127.02 per ounce, after touching intraday highs near $4,140 per ounce.

The rally comes after bullion staged a sharp rebound of over 3% on Wednesday, reclaiming the $4,000 support level. Analysts note that favorable macroeconomic conditions and easing Fed policy expectations are supporting safe-haven demand. Meanwhile, spot silver climbed 1.8% to $53.15 per ounce, while the Bloomberg Dollar Spot Index eased 0.2%.