Gold jumps as dollar dips after Democrats take Congress: Nov 6, 2026
Gold jumped as the dollar dipped after Democrats took control of Congress in the US midterms, with the move also showing in higher UAE gold prices. The advance came alongside rebounding stocks and slumping oil on Iran diplomacy hopes, with gold noted back at $4,000 after a 7% rise in three sessions. Offsetting pressure was noted from rebounding bond yields and Fed hike bets supporting the dollar ahead of US jobs data.
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Headlines (9)
First seen on November 6
Carried over from earlier days
- Gold Price Forecast: XAU/USD ticks lower while early trend points to Democrats victory in HouseFXStreet
- UAE gold climbs Dh11 as US vote weakens dollargulfnews.com
- Gold, silver and precious metals prices jump, dollar dips as Democrats take control of CongressCNBC
- investingLive European session wrap: Stocks rebound, gold soars as dollar tumbles after blue sweep in US midtermsInvestingLive
- Gold is back at $4,000. Don't celebrate yetFXStreet
- Financial & Forex Market Recap: Nov. 4, 2026babypips.com
- Gold jumps as oil slumps on Iran diplomacy hopes, an early test of Citi’s thesisInvestingLive
- Gold and Silver Surge 7% & 10% in 3 Sessions: All Targets Achieved - What’s Next?Investing.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, November 6 | ||
| FOMC Member Logan Speaks | USD | |
| Foreign Currency Reserves | CHF | |
| SECO Consumer Climate | -35 | CHF |
| FOMC Member Williams Speaks | USD | |
| Gov Board Member Tschudin Speaks | CHF | |
| Average Hourly Earnings m/m | 0.3% | USD |
| Unemployment Rate | 4.2% | USD |
| Non-Farm Employment Change | 65K | USD |