Why is gold price up today? Precious metal rises by 1.6% to $4,124.89 per ounce after US midterm election - The Economic Times

AI desk brief

Spot gold rose 1.6% to $4,124.89 an ounce by 0752 GMT, after reaching $4,146.63, its highest since October 20; the publication year is unspecified. XS.com analyst Linh Tran attributed support to a weaker dollar and lower Treasury yields, though nominal yields alone do not establish a real-yield decline. The report links Republican midterm losses to expectations of reduced Iran-war escalation and softer oil prices; reduced geopolitical tensions could temper haven demand. Tran said continued investment-flow and bond-yield support could allow consolidation above $4,000, with a sustained hold opening potential moves toward $4,200 and then $4,400.