# Democrats Win Midterms, Driving Gold Up Over $100 Intraday Back Above $4,000

> 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.

- Date: 2026-11-04 · published 2026-11-04T21:12:37.363Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/80522-democrats-win-midterms-driving-gold-up-over-100-intraday-back-above-4-000
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-24 | [Gold leaps above $2,000 as dollar weakens on Fed pause bets \| Reuters](https://feedsoft.ai/events/33076-gold-leaps-above-2-000-as-dollar-weakens-on-fed-pause-bets-reuters.md) | -0.4% | -1.1% |
| DXY | 2020-06-09 | [Sterling rises above $1.27; driven by dollar moves](https://feedsoft.ai/events/52871-sterling-rises-above-1-27-driven-by-dollar-moves.md) | +1.1% | +0.8% |
| DXY | 2023-02-02 | [USD falls on Fed slowing inflation comments, gold and base metals boosted \| IG International](https://feedsoft.ai/events/37235-usd-falls-on-fed-slowing-inflation-comments-gold-and-base-metals-boosted-ig.md) | +1.3% | +2.1% |
| DXY | 2023-11-23 | [Gold up on weaker dollar as investors wait on Fed rate path](https://feedsoft.ai/events/33078-gold-up-on-weaker-dollar-as-investors-wait-on-fed-rate-path.md) | -0.4% | -1.1% |
| DXY | 2021-10-28 | [Euro Has Best Day In 5 Months, While U.S. GDP Overshadows ECB \| Investing.com](https://feedsoft.ai/events/44757-euro-has-best-day-in-5-months-while-u-s-gdp-overshadows-ecb-investing-com.md) | +0.6% | +2.5% |

## Sources

- tradingkey.com: https://www.tradingkey.com/analysis/commodities/metal/262272357-midterm-elections-democrats-win-gold-rebound-100-4000-tradingkey

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.