Gold and silver rally after Democrats win control of Congress
Gold and silver just shot up: gold passed $4,023 an ounce, and silver is close to $52.
In India, gold futures jumped 2.08% and silver 3.55% on the MCX.
The big reason? The US midterm elections led to Democrats winning control of both chambers of Congress, making investors nervous and pushing them toward safer bets like precious metals.
President Trump's plans could face roadblocks
With US Democrats winning control of both chambers of Congress, President Trump's plans could hit roadblocks, so markets are feeling uncertain.
Plus, a weaker dollar and lower Treasury yields are adding fuel to the fire.
Analyst Nirpendra Yadav, Sr Research Analyst at Bonanza Portfolio, notes that while these factors might boost gold and silver for now, long-term prices will still depend on actual demand and market stability.