Dollar at September low after Democrats win US Congress. Gold surpasses $4,100/ounce

Update

Dollar at recent low after Democrats' victory in US Congress. Gold above $4,100/ounce

The US dollar fell to its lowest level in the past five weeks, while gold surpassed the $4,100 per ounce mark, following the results of the US Congressional elections. ^[3]

The dollar index fell on Thursday by 0.22% to 101.25 points, the lowest level since September 30, continuing a downward trend marked on Wednesday by a depreciation of 0.34%. The euro appreciated by 0.29% to $1.1261, and the British pound rose to $1.349, approaching the maximum of the last seven weeks. The Japanese currency increased by 0.27%, reaching 157.95 yen per dollar. ^[3]

Investors are also monitoring the upcoming decision of the Bank of England, which could raise interest rates to combat inflation fueled by the rise in energy costs. ^[3]

Gold increased by 1.9%, reaching $4,134.83/ounce, the highest level since October 22. This follows a rise of approximately 3.4% in the previous session. ^[3]

The appreciation of gold is supported by the weakening of the dollar and the decline in US bond yields. The yield on ten-year government bonds fell to 4.847%, the lowest level since September 10. ^[3]

Update

Central banks buy gold 42% more, price exceeds $4,130/ounce

The price of gold surpassed the threshold of $4,100 per troy ounce, at approximately $4,130, continuing an upward trend after the Democratic Party gained majorities in both chambers of the US Congress. This development was amplified by the depreciation of the US dollar and the decline in US Treasury bond yields, which also supported silver and platinum prices. The precious metal has recovered after a substantial correction in recent months, when the quote fell below $3,900 at the end of October, in the context of expectations for interest rate hikes and dollar appreciation, being distanced from the historical highs of over $5,500 recorded at the end of last year. ^[4]

Data from the World Gold Council shows that central banks increased their gold purchases by 42% in the third quarter of 2026, buying 321 tonnes, and the annual total reached 675 tonnes. Investors also returned to physically backed gold Exchange Traded Funds (ETFs), attracting net capital inflows equivalent to 211 tonnes of gold in the third quarter. Global gold demand reached 3,881 tonnes in the first nine months of the year, and its value reached a record high of $566 billion, although demand for physical bars and coins fell by 19% in the third quarter compared to the same period of the previous year. ^[4]

Victor Dima, manager of the Treasury Department at Tavex Romania, observed growing interest in the local market in October, with purchases reaching levels comparable to the beginning of the year, demonstrating that volatility can stimulate interest in gold. Jeffrey Christian, analyst at CPM Group, suggested that precious metal prices may be approaching a minimum, and political uncertainty in the US could reactivate investment demand. With a Republican president and a Democratic Congress, the division of power could make the adoption of legislation more difficult and amplify economic uncertainty, but the strategic importance of gold remains, with central bank purchases indicating a long-term outlook despite short-term fluctuations. ^[4]

Update

Gold surpasses $4,130/ounce after Democrats' victory in Congress. Central banks heavily buy the precious metal

The price of gold surpassed the threshold of $4,100 per troy ounce, reaching approximately $4,130 on November 5, after the Democratic Party's victory in both chambers of the US Congress. The change in the political balance of power determined the depreciation of the US dollar and the decline in US Treasury bond yields, developments that supported precious metal prices. This recovery follows a substantial correction in recent months, when the quote fell below $3,900 at the end of October, after historical highs of over $5,500. ^[5]

Data from the World Gold Council shows that, in the third quarter of 2026, central banks bought 321 tonnes of gold, an increase of 42% compared to the same period of the previous year, with total annual purchases reaching 675 tonnes. Interest remains high among investors through physically backed gold ETFs, which recorded net capital inflows equivalent to 211 tonnes in the third quarter. Global gold demand reached 3,881 tonnes in the first nine months, reaching a record value of $566 billion. However, demand for physical bars and coins decreased by 19% in the third quarter. ^[5]

Victor Dima, manager of the Treasury Department at Tavex Romania, observed growing interest in the local market in October, with purchases reaching levels comparable to the beginning of the year, demonstrating that volatility can stimulate interest in gold. Jeffrey Christian, analyst at CPM Group, suggested that precious metal prices may be approaching a minimum, and political uncertainty in the US could reactivate investment demand. The division of power between the Republican president and the Democratic Congress could hinder the adoption of legislation and amplify economic uncertainty, but the strategic importance of gold remains, with central bank purchases indicating a long-term outlook despite short-term fluctuations. ^[5]

Update

Gold returns above $4,100 to highest level since October

Gold returns to the center of investors' attention after weeks of turbulence on international markets, with the price of the precious metal again surpassing the threshold of $4,100 per ounce. ^[6]

Interest in investment gold in Romania increased in October, although quote fluctuations remain strong, and global demand for physical bars and coins decreased by 19% in the third quarter compared to the same period of the previous year. ^[6]

After reaching a historical high of over $5,500 per ounce at the end of January 2026, gold suffered a significant correction, falling below $3,900 at the end of October. The beginning of November marked a change in direction, with the quote rising on November 5 to approximately $4,130 per ounce. ^[6]

The recovery of the gold price was fueled by the results of the midterm elections in the United States, after which Democrats obtained majorities in both chambers of Congress. Uncertainties regarding US economic policy, the depreciation of the dollar, and the fall in government bond yields contributed to the rise in the price of gold, as well as other precious metals such as silver and platinum. ^[6]

Data from the World Gold Council shows that central banks acquired 321 tonnes of gold in the third quarter of 2026, an increase of 42% compared to the same period of the previous year. Total purchases in the first quarter of the year totaled 675 tonnes. ^[6]

Individual investors also returned to physically backed Exchange Traded Funds (ETFs), which recorded net capital inflows equivalent to 211 tonnes in the third quarter. ^[6]

In the first nine months of the year, global gold demand reached 3,881 tonnes, achieving a record value of $566 billion. ^[6]

Victor Dima, manager of the Treasury Department at Tavex Romania, stated that, although global demand for investment bars and coins decreased in the third quarter, there was growing interest in Romania in October. Local purchases reached levels comparable to those at the beginning of the year, and strong price fluctuations generated not only uncertainty but also stimulated interest in gold. ^[6]

Update

Gold surpasses $4,100, recovering after correction, fueled by US election outcomes and central bank purchases

Gold returns to the center of investors' attention, its price surpassing the threshold of $4,100 per ounce amidst political changes in the US and the continuation of reserve accumulation by central banks. In Romania, interest in investment gold increased in October, despite strong quote fluctuations. ^[7]

The precious metal recovered after the strongest correction since the historical peak of over $5,500 per ounce reached at the end of January, when the quote fell below $3,900 at the end of October. The change in direction occurred at the beginning of November, with the price reaching approximately $4,130 per ounce on November 5. ^[7]

The recovery of the price was stimulated by the Democrats' victory in the US Congressional elections. The result of the vote, which changed the balance of power for the last two years of the presidential term, generated uncertainties regarding US economic and fiscal policy, the depreciation of the dollar, and the decline in government bond yields, factors that favored both gold and other precious metals, such as silver and platinum. ^[7]

Data from the World Gold Council indicates a continuation of the central banks' reserve strategy: in the third quarter of 2026, purchases totaled 321 tonnes, an increase of 42% compared to the same period of the previous year. Thus, the volume of purchases from the beginning of the year reached 675 tonnes, confirming the strategic role of gold in diversifying reserves. Investors also returned to physically backed Exchange Traded Funds (ETFs), which recorded net capital inflows equivalent to 211 tonnes in the third quarter. ^[7]

Globally, gold demand reached 3,881 tonnes in the first nine months of the year, a value close to the historical record in 2025. The total value of this demand reached an unprecedented level of $566 billion. However, there is a divergence between the behavior of institutional investors and buyers of physical gold. Globally, demand for investment bars and coins decreased by 19% in the third quarter, with many investors preferring to wait for market stabilization before investing. ^[7]

In Romania, the dynamics seem different. According to Tavex Romania, October brought an intensification of investment gold purchases, conditions created by price fluctuations generating new opportunities for local buyers. “Although global demand for investment gold bars and coins decreased in the third quarter, in October we observed growing interest in the Romanian market. Investment gold purchases reached levels comparable to those recorded at the beginning of the year. This shows that strong price fluctuations do not generate only uncertainty, but can also stimulate interest in gold,” declared Victor Dima, manager of the Treasury Department at Tavex Romania. ^[7]

Recent developments confirm that gold remains a critical asset for central banks and individual investors. In a market characterized by significant volatility, rapid price fluctuations do not cause all participants to withdraw; for some, instability becomes a factor of attraction and an opportunity to enter the market. ^[7]

Update

Gold returns to $4,100, fueled by central bank purchases

Gold has returned to the threshold of $4,100 per ounce amid post-election political uncertainty in the US and the continued reserve accumulation by central banks, with global demand reaching 3,881 tonnes in the first nine months, close to the historical record from 2025. ^[8]

Despite the previous correction that led the quote below $3,900, the price registered a strong recovery on November 5, reaching approximately $4,130 per ounce, marked by a significant increase starting from November 4. ^[8]

The Democratic Party's victory in both chambers of Congress amplified uncertainty regarding US economic policy. The change in the balance of power determined the depreciation of the dollar and the decline in bond yields, supporting the prices of gold, silver, and platinum. ^[8]

The current recovery follows a substantial correction after historical highs of over $5,500 from the end of January, when the quote fell below $3,900 at the end of October. ^[8]

Factors leading to the previous decline included expectations for interest rate hikes in the US, dollar appreciation, and a wave of sales on global financial markets. ^[8]

In the context of high market volatility, recent data indicate a distinct behavior of institutional buyers compared to other participants. ^[8]

Central banks purchased 321 tonnes of gold in the third quarter of 2026, an increase of 42% compared to the same period of the previous year, with total volumes for the current year reaching 675 tonnes. ^[8]

Investors returned to physically backed Exchange Traded Funds (ETFs), following withdrawals in the second quarter, these funds recording net capital inflows equivalent to 211 tonnes of gold in the third quarter. ^[8]

The total value of global gold demand reached a record of $566 billion in the first nine months of the year. ^[8]

Unlike institutional and ETF demand, demand for physical gold bars and coins decreased by 19% in the third quarter, with many investors waiting for clarity in price direction before investing. ^[8]

On the local Romanian market, the manager of the Treasury department at Tavex Romania, Victor Dima, observed growing interest in October, with investment gold purchases reaching levels comparable to those at the beginning of the year. ^[8]

Jeffrey Christian, analyst at CPM Group, suggested that precious metal prices may be approaching a minimum, and political and economic uncertainty could stimulate investment demand, although further short-term declines cannot be ruled out. ^[8]

The evolution of the gold price will continue to depend on Federal Reserve decisions, fluctuations of the US dollar, and the behavior of large institutional investors. Central bank purchases indicate that gold retains its strategic importance, despite short-term fluctuations. ^[8]