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Gold reached its highest level in more than two weeks as the dollar weakened and US Treasury yields fell ahead of the November 6 employment report. The US 10-year yield closed at 4.90% on November 4, down 5 basis points on the day, while traders awaited payroll data that could shift expectations for US interest rates.
Lower yields reduce the opportunity cost of holding non-yielding assets, and a weaker dollar can support dollar-priced commodities by making them cheaper for overseas buyers.
aephel.comNatalia PetrovaNov 5, 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.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.
