# Gold clings to gains above $4,100 as USD slides on election fallout

> Gold traded above $4,100 near a two-week high after the US dollar fell following the Democratic midterm win. Crude oil slid to a two-month low, easing inflation fears. Traders are waiting for the US nonfarm payrolls report and watching for hawkish Fed signals.

- Date: 2026-11-05 · published 2026-11-05T09:14:11.405Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/81550-gold-clings-to-gains-above-4-100-as-usd-slides-on-election-fallout
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker dollar and lower oil reduce inflation and yield pressure, supporting bullion prices. Expectations of a Fed rate hike could cap gains if the jobs data is strong.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-08-28 | [AUD/USD clings to gains near 0.6800 as RBA unlikely to cut interest rates this year](https://feedsoft.ai/events/29057-aud-usd-clings-to-gains-near-0-6800-as-rba-unlikely-to-cut-interest-rates-this.md) | +0.5% | -0.3% |
| DXY | 2024-10-11 | [Gold extends gains over 1% as US PPI data solidifies rate cut hopes](https://feedsoft.ai/events/27756-gold-extends-gains-over-1-as-us-ppi-data-solidifies-rate-cut-hopes.md) | +0.7% | +2.0% |
| DXY | 2026-02-23 | [Sterling firms against dollar; tariff fallout, Manchester election in focus \| Reuters](https://feedsoft.ai/events/20862-sterling-firms-against-dollar-tariff-fallout-manchester-election-in-focus.md) | -0.1% | +1.9% |
| DXY | 2022-09-30 | [Dollar gains on euro after inflation data, sterling falls](https://feedsoft.ai/events/39798-dollar-gains-on-euro-after-inflation-data-sterling-falls.md) | -0.2% | -0.3% |
| DXY | 2025-04-07 | [Euro gains alongside safe-havens as Trump tariff fallout grips markets](https://feedsoft.ai/events/7252-euro-gains-alongside-safe-havens-as-trump-tariff-fallout-grips-markets.md) | -1.4% | -2.6% |
| WTI | 2020-03-30 | [USD/CAD climbs to daily highs above 1.4150 as WTI extends slide below $20 - Forex Crunch](https://feedsoft.ai/events/54357-usd-cad-climbs-to-daily-highs-above-1-4150-as-wti-extends-slide-below-20-forex.md) | +64.1% | -28.3% |
| WTI | 2020-06-30 | [USD/CAD clings to modest gains, remains below 1.3700 mark post-Canadian GDP — Octa](https://feedsoft.ai/events/52861-usd-cad-clings-to-modest-gains-remains-below-1-3700-mark-post-canadian-gdp-octa.md) | +2.3% | +3.2% |
| WTI | 2020-07-30 | [USD/CAD jumps to weekly highs above 1.3450 on oil selloff — Octa](https://feedsoft.ai/events/52353-usd-cad-jumps-to-weekly-highs-above-1-3450-on-oil-selloff-octa.md) | +2.6% | +5.1% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/gold-extends-post-election-rally-on-usd-weakness-and-softer-bond-yields-202611050352

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