Post US election, gold and gold miners soar in China.
Gold And Gold Miners Surge In China
November 4 (King World News) – Bai, Xiaojun: Nov. 4, 2026, the gold/silver markets data in SGE/SHFE. Today, gold miners and jewelry stocks in China surged! The market here believes that after the Democratic Party controls the congress again, American politics is in chaos, which is the best news for gold…
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Election Impact On Gold, Silver, Oil
Ole Hansen, Head of Commodity Strategy at SaxoBank: US midterms response across key commodities: The Democrats’ historic election victory has triggered an initial reassessment of US fiscal, trade and foreign policy, with precious metals emerging as the clear winners.
Precious metals: Gold and silver have rallied, supported by a softer dollar and lower Treasury yields amid expectations that a Democrat-controlled Congress could constrain Trump’s fiscal agenda and limit further, increasingly unaffordable fiscal expansion. Short covering has added momentum after gold reclaimed key resistance at USD 3,970, potentially setting up a challenge of the downtrend in place since August, currently around USD 4,035.
Copper: Prices trade lower but off their lows as traders reassess AI-related demand prospects and whether Trump’s defeat, combined with voters’ focus on affordability, has reduced the likelihood of US import tariffs on refined copper. Such a shift could ease short-term supply distortions and potentially release US-held inventories back onto the global market, while longer-term supply constraints remain supportive.
Energy: Oil prices have staged a modest rebound following a two-day slump as traders weigh conflicting signals over the prospects for US-Iran peace talks. Adding to the uncertainty is how Trump may respond on the foreign policy front, where his executive powers remain considerable despite a resounding electoral rebuke driven by voter frustration over the cost of living and the war in Iran. With his domestic agenda now facing greater congressional resistance, the risk of a more assertive stance abroad cannot be ignored, keeping geopolitical uncertainty firmly in focus.
Gold & Silver Takedown
To hear more about the gold and silver takedown from James Turk CLICK HERE OR ON THE IMAGE BELOW.
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