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2026-11-04 15:14:28
Gold prices rebounded above $4,000 on Wednesday, supported by a weaker dollar and lower U.S. Treasury yields. ⑴ Gold prices rose more than 2% on Wednesday, regaining the $4,000 per ounce mark, supported by a weaker dollar and lower U.S. Treasury yields. ⑵ The Democratic Party's key victory in the U.S. midterm elections led the market to believe the election results could increase the likelihood of a political deadlock in Washington and limit the prospect of further fiscal expansion. ⑶ The dollar fell to a four-week low, and U.S. Treasury yields fell across the board, boosting the appeal of non-yielding gold. ⑷ Meanwhile, continued uncertainty surrounding U.S.-Iran negotiations continues to cloud the geopolitical outlook, with Washington and Tehran still far from reaching an agreement to end the conflict. ⑸ Investors will also be looking to Friday's U.S. non-farm payrolls report for further clues about the Fed's policy outlook. ⑹ According to CME's FedWatch tool, the market currently expects a 79% probability of a Fed rate hike in December.
