Pomegra
Gold Jumps to $4,140 Two-Week High on Softer Dollar
Why did gold jump 1.7% on Monday?
Gold (XAU) jumped 1.7% to a two-week high near $4,140 an ounce on Monday as a softer dollar and Washington politics outweighed a strong US jobs report.
Key numbers
| Gold spot price | $4,141/oz+1.7% (Kitco snapshot: +1.3%) |
|---|---|
| Fed December hike odds | ~80%from 72.8% before jobs data |
| October US jobs added | 165,000vs 65,000 expected |
| US Dollar Index | 101.56-0.61% on the day |
| Gold, past week | +5%after Democratic midterm sweep |
| Central bank buying, Q3 | 321 tonnes+42% vs a year earlier |
What happened
Gold (XAU) jumped 1.7% to a two-week high near $4,140 an ounce on Monday as a softer dollar and Washington politics outweighed a strong US jobs report. On Friday, gold had slipped after the US added 165,000 jobs in October, well above the 65,000 expected, lifting bets on a December interest-rate hike to about 80%. Gold pays no interest, so higher rates usually hurt it. It rebounded as the dollar weakened and oil fell on hopes for US-Iran talks. Investors now await Tuesday's US inflation report.
Why it matters
Gold is a traditional safe haven, meaning people buy it when they worry about the economy, so its price shows how nervous investors are about inflation, interest rates and government spending. After Democrats swept the midterm elections, investors expect a divided Washington to limit spending, which eases debt worries and pulled the dollar and bond yields lower. Central banks also bought 321 tonnes in the third quarter, 42% more than a year earlier.
Who this affects
- MarketbullishMedium impact
- Gold buyers gain, but rate-hike bets limit upside.
- CompanybullishMedium impact
- Gold holders gain; miners likely benefit from higher prices.
- CompetitorsbullishLow impact
- Silver and palladium also rose, helping their holders.
- IndustrybullishMedium impact
- Central banks keep buying despite high prices, supporting demand.
Gold vs Silver, Palladium
| GoldXAU | $4,128 | +1.4% |
|---|---|---|
| SilverXAG | $52.60 | +1.4% |
| PalladiumXPD | $1,024 | +0.7% |
As of 2026-11-09
How we got here
Gold falls to a low of $3,869.85 an ounce.
Democratic midterm sweep drives gold's biggest one-day gain since August.
Gold touches $4,146.63 as the dollar hits its lowest since September 30.
US reports 165,000 October jobs; gold slips as December rate-hike odds rise.
Gold jumps 1.7% to near $4,140 as the dollar softens.
What to watch
- October CPI inflation report at 8:30 a.m. ET could shift Fed hike bets.2026-11-10
- Gold's test of $4,200, the 100-day average analysts flag as resistance.2026-11-10
- Fed's December meeting, where markets price about 80% odds of a quarter-point hike.Q4 2026
Educational content only. Not investment advice.
More briefsAll briefs →
France Blames Iran for Hack of 700 Supermarket Fridge Sites
Carrefour (CA.PA) was among chains hit as France seeks arrest warrants and EU sanctions over fridge hacks
KKR Stock Rises 3% After Record Quarterly Earnings
KKR (KKR) plans to return over $40B to clients in 2026, topping its record by 50%+, on asset sales.
Meta and Amazon Stocks Rise 5% on JPMorgan AI Picks
Meta (META) and Amazon (AMZN) rise as JPMorgan drops Alphabet, which still gained 3%, from its focus list