Gold surges as dollar falls after US elections
Gold prices jumped over three percent on Wednesday for their largest daily gain since August. The dollar tumbled to a one-month low after Democrats won the US midterms.
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Gold surged 3.4% to $4,059.95 per ounce during Wednesday afternoon trading, on track for its biggest daily gain since August. The rally followed a sharp decline to $3,869.85 on October 30, marking the lowest level since October 2025. Investors are positioning themselves ahead of upcoming labor market data to gauge the path of interest rates.
