Gold rises to $4,064 as dollar falls
Gold rose 3.43% to $4,064.04, near the session high, as headlines tied the rally to a weaker dollar after US midterms.
By the evening, spot gold stood at $4,064.04 per troy ounce, up $134.81, or 3.43%, from the previous close and close to the session high of $4,066.83. The day’s range ran from $3,920.16 to $4,066.83. MSN reported that the dollar fell while gold and US Treasury bonds rallied as markets reacted to Democrats’ midterm election victory, and Kitco said gold and silver surged as a Democratic sweep drove the dollar and yields lower. Spot silver was $52.15, up 4.76%, with the gold/silver ratio at 77.9.
Continued from the morning edition of 4 November 2026. Prices below are frozen at publication — the live gold price has the current figure, and this guide covers what tends to move it.
Midterms, dollar and yields dominated
MSN reported that the dollar fell while gold and US Treasury bonds rallied as markets reacted to Democrats’ midterm election victory. Kitco’s AM Report said gold and silver surged as a Democratic midterm sweep drove the dollar and yields lower, while a later Kitco headline said gold gained 3% as the dollar slid after Democratic gains. The Wall Street Journal also linked gold’s climb to a softer dollar and falling Treasury yields after the US midterms. ThinkMarkets said the Democratic sweep hit AI stocks and the dollar as gold rose, and Yahoo Finance said gold mining shares rallied as the victory weakened the US dollar and lifted bullion prices.
- Dollar falls while gold and US Treasury bonds rally as markets react to Democrats’ midterm election victory – business live MSN
- Gold and silver surge as Democratic midterm sweep drives dollar, yields lower - Kitco AM Report Kitco
- Gold gains 3% as dollar slides after Democratic midterm gains Kitco
- Democratic sweep hits AI stocks and the dollar, gold rises ThinkMarkets
- Gold Mining Shares Rally as Democratic Midterm Victory Weakens US Dollar and Lifts Bullion Prices Yahoo Finance
- Gold Climbs on Softer Dollar, Falling Treasury Yields After U.S. Midterms WSJ
Economic data added to the backdrop
Kitco reported that gold held firm as the US ISM said the service sector expanded in October. Earlier, Kitco said gold prices were holding $4,000 as ADP said the US economy created 86k jobs in October, while Business Upturn said spot gold climbed 2.74% to $4,035 after US ADP jobs data. TVB attributed a spot gold price surge to interest rate uncertainty and midterms. Bloomberg said gold steadied as traders tracked Iran talk prospects and US midterms, and Yahoo Finance UK said investors monitored US-Iran talks as gold rallied toward $4,000.
- Gold holding firm as US ISM says Service Sector expands in October Kitco
- Gold price today: Spot gold climbs 2.74% to $4,035 after US ADP jobs data Business Upturn
- Gold prices holding $4,000 as ADP says US economy created 86k jobs in October Kitco
- Spot gold price surge amid interest rate uncertainty & midterms TVB
- Gold Steadies as Traders Track Iran Talk Prospects, US Midterms Bloomberg.com
- Gold Rallies Towards $4,000 as Dollar Weakens and Investors Monitor US-Iran Talks Yahoo Finance UK
Demand headlines stayed supportive
Kalkine.ca said central-bank gold buying was reshaping the bullion demand outlook, while thenational.co.za reported that central-bank buying and gold ETF inflows supported demand in the third quarter. Equiti said gold ETF inflows rose as yields limited gold price recovery, and Apa.az said central bank gold purchases rose while jewellery demand declined. UNITED24 Media reported that global central banks are buying gold and that Russia is selling more than anyone to cover its budget deficit. In tokenised bullion, Coin Edition said Tether Gold reserves surged 59% as physical bullion holdings hit $3.44 billion, and Traders Union said reserves reached a record US$3.44 billion.
- Tether Gold Reserves Surge 59% as Physical Bullion Holdings Hit $3.44B Coin Edition
- Tether Gold reserves reach record U.S.$3.44 billion as XAU₮ backing expands Traders Union
- Central Bank Gold Buying Reshapes Bullion Demand Outlook kalkine.ca
- Global Central Banks Are Buying Gold. Russia Is Selling More Than Anyone to Cover Its Budget Deficit UNITED24 Media
- Central-bank buying and gold ETF inflows support demand in third quarter thenational.co.za
- Gold ETF Inflows Rise as Yields Limit Gold Price Recovery www.equiti.com
Silver joined the metals rally
Silver finished the session at $52.15 per troy ounce, up 4.76%, outpacing gold’s 3.43% gain and leaving the gold/silver ratio at 77.9. Kitco said gold and silver surged as Democratic midterm results drove the dollar and yields lower, and USAGOLD said silver jumped 4.6% as gold surged 3% to $4,053. Barchart framed the metals move around silver at $52 and gold above $4,000, while News18 reported that gold and silver ETFs rallied as US midterm election results lifted bullion prices.
- Gold and silver surge as Democratic midterm sweep drives dollar, yields lower - Kitco AM Report Kitco
- Gold Surges 3% to $4,053 as Democrats Sweep Congress; Silver Jumps 4.6% usagold.com
- Silver to $52, Gold Above $4,000! Solar Rally Boosts Silver Demand? | Metals Minute Phil Streible Barchart.com
- Gold, Silver ETFs Rally Up To 6% As US Midterm Election Results Lift Bullion Prices News18
What to watch
- Dollar and Treasury yield moves after the midterm-related headlines.
- US data follow-through after the ADP and ISM headlines.
- Central-bank buying and ETF flow updates in new demand reports.
- Silver’s hold around the $52 level and the gold/silver ratio.
Gold price on 4 November 2026
| Spot gold | USD / oz | Change on previous close |
|---|---|---|
| Previous close | $3,929.23 | |
| Morning edition, | $4,018.53 | +$89.30 · +2.27% |
| Evening edition, (this page) | $4,064.04 | +$134.81 · +3.43% |
| Close | Recorded when the next session opens | |
Prices from XAUTicker, frozen when each edition was published. A close is added once the next session’s first edition records it.