US midterms impact on gold, silver ETFs: Why bullion is rallying after Trump's setback - Livemint

AI desk brief

MCX December gold futures rose 1.18% to ₹145,460 per 10 grams and silver futures gained 0.67% to ₹189,470 per kg, while several Indian bullion ETFs advanced. The source attributes the rally to Democratic congressional election victories and accompanying dollar and bond-yield declines, but does not specify the election year. It argues that a possible US-Iran resolution could ease oil-driven inflation and pressure for restrictive Fed policy; any further bullion support would depend on policy and currency responses, not nominal yields alone. ETF price gains do not establish physical inflows, and the source cautions that gains may not persist.