US Midterm Election Results: Gold price falls 22% from peak before Dhanteras; should you buy after setback to Trump? - Livemint

AI desk brief

Gold rose 2.2% to $4,016.01/oz as the dollar weakened alongside reported Democratic victories in the November 2026 US midterms; MCX December futures reached ₹1,42,471/10g. Giottus CEO Vikram Subburaj cited a 78% probability of a December Fed hike, leaving the rebound vulnerable if policy expectations strengthen the dollar. Ventura forecasts a November range of $3,900–$4,200, with a test of $3,900 before the December meeting, while expecting festive and wedding demand to cushion institutional selling. The article’s domestic technical forecasts are internally inconsistent: Axis Direct describes gold as below ₹1,20,633 support despite the much higher quoted MCX price, limiting their usefulness.