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Gold rebounded nearly $110 intraday to a high near $4,029 on November 4 after the Democratic Party won control of both the Senate and House in the US midterm elections. The weaker dollar and Treasury yields lowered the opportunity cost of holding gold.
Election-driven dollar weakness supports gold, but markets price a high chance of a December Fed hike that limits the rally. The direct impact on feed ingredients is minimal.
tradingkey.comAuthor Alan LongNov 4, 2026After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
