Quote on Gold 05th November 2026 from Ashish Rajodiya, Head - Commodities, PL Capital
Below the Quote on Gold 05th November 2026 from Ashish Rajodiya, Head - Commodities, PL Capital
Gold rose about 3% to above $4,040 an ounce on Wednesday and silver gained more than 4% to near $52. The trigger was the Democrats' win in both chambers of Congress, which pushed the dollar to a one-month low and Treasury yields lower. A divided Congress raises the odds of gridlock and tighter federal spending, which eases the case for heavy government borrowing. Silver moved more than gold because its market is smaller and part of its demand is industrial.
The rally comes even though the Fed still leans hawkish. Rates were held at 3.75-4.00% last week with two policymakers favouring a hike, and futures put the chance of a December hike near 80%. Unresolved US-Iran tensions continue to support safe-haven demand.
Gold's gains now depend on yields staying lower. A rebound in yields or a December hike could take back part of the jump, while a weaker dollar and persistent geopolitical risk would help it hold.
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