# Jobs Report vs. Midterms in the Fight to Steer Gold and the Dollar

> Gold and silver rallied after the US midterm elections gave Democrats control of both the House and Senate. Treasury yields fell and the dollar dropped to its weakest level in a month against major peers. Traders are weighing the political reaction against upcoming nonfarm payrolls data.

- Date: 2026-11-05 · published 2026-11-05T09:14:11.255Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/81548-jobs-report-vs-midterms-in-the-fight-to-steer-gold-and-the-dollar
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower Treasury yields and a weaker dollar reduce the cost of holding dollar-priced assets and can support commodity prices broadly. Fed rate-hike expectations from the jobs data could reverse this move.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-07-05 | [Gold prices rise to over one-month high after US jobs report](https://feedsoft.ai/events/29147-gold-prices-rise-to-over-one-month-high-after-us-jobs-report.md) | -0.8% | +0.1% |
| DXY | 2025-06-25 | [GBP: Is there room for sterling to make gains against the dollar?](https://feedsoft.ai/events/24476-gbp-is-there-room-for-sterling-to-make-gains-against-the-dollar.md) | -0.8% | -0.7% |
| DXY | 2024-09-19 | [Sterling rises vs dollar after Fed; BoE in focus \| Reuters](https://feedsoft.ai/events/28566-sterling-rises-vs-dollar-after-fed-boe-in-focus-reuters.md) | -0.1% | +2.1% |
| DXY | 2023-07-14 | [FX Talking July: The dollar’s break point \| reports \| ING THINK](https://feedsoft.ai/events/9981-fx-talking-july-the-dollar-s-break-point-reports-ing-think.md) | +0.4% | +1.7% |
| DXY | 2018-11-05 | [Dollar slips ahead of midterm vote; sterling up on Brexit deal report - MarketWatch](https://feedsoft.ai/events/62303-dollar-slips-ahead-of-midterm-vote-sterling-up-on-brexit-deal-report-marketwatch.md) | +0.7% | +0.3% |

## Sources

- stonex.com: https://www.stonex.com/en/insights/jobs-report-vs-midterms-in-the-fight-to-steer-gold-and-the-dollar/

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