Gold rate prediction: Will gold price jump after US Midterm elections results? Check critical factors - The Economic Times

AI desk brief

Gold rebounded 2.1% to $3,954.41/oz after Friday’s 3.6% drop, while December COMEX gold settled 1.8% higher at $3,969.60/oz. Silver jumped 3.1% to $50.64/oz, platinum rose 1.3% to $1,449.25/oz, and palladium slipped 1.1% to $966.08/oz as the market reset after a margin-call driven selloff in tech and AI-linked stocks.

The bounce was helped by an 8% drop in oil prices, which eased inflation चिंता, and by a modest pullback in December Fed hike odds to 77% from 80% a week ago, according to CME FedWatch. Analysts said the dollar was also a mild tailwind, while gold’s 14-day RSI recovered to about 37 from below 30, moving it out of oversold territory; Julius Baer’s Carsten Menke said persistent US deficits should remain a longer-term support factor regardless of the midterm election outcome.