Category: Business News

Gold climbed back above $4,100 an ounce on 5 November 2026, as the US dollar weakened after the American midterm elections. Spot gold rose 1.6 percent to $4,124.89 an ounce by 0752 GMT on Thursday, after touching a session high of $4,146.63, its highest level since 20 October.

The metal had already jumped about 3.4 percent on Wednesday, 4 November, its sharpest one-day rise since 19 August. That rebound came after gold fell to a one-month low of $3,869.85 the previous Friday.

Why gold is rising again

  • A weaker dollar. The US dollar fell to its lowest level in over a month after the midterm results, making gold cheaper for buyers in other currencies.
  • Falling bond yields. US Treasury yields eased, which reduces the cost of holding gold, a metal that pays no interest.
  • Lower oil prices. Brent crude slipped below $100 a barrel, easing inflation worries and supporting risk appetite in some markets.

Analysts quoted by Reuters said the recovery could extend toward $4,200 to $4,400 an ounce if current support levels hold. Citi has a 0–3 month target of $4,500 an ounce.

What it means in India

In India, MCX December gold futures rose ₹1,947 (1.37 percent) to ₹1,45,181 per 10 grams on 5 November. The 24-carat gold rate in India was ₹1,42,960 per 10 grams the same day.

That is close to the Dhanteras rate in Delhi, where 24-carat gold was quoted at about ₹1,46,085 per 10 grams on 6 November. Silver has also stayed near record highs, at around ₹2.10 lakh per kg in Delhi’s retail market.

Should buyers wait?

Gold has been volatile in recent weeks — a sharp fall to under $3,900, then a fast recovery above $4,100. For families buying for Diwali, the price on the day matters more than the international trend, because Indian retail rates also include import duty, GST and the jeweller’s making charges.

The message from the market is simple: gold is recovering, but it is moving fast in both directions. Buyers should check the day’s rate, insist on a bill with weight and purity clearly stated, and check the hallmark before paying.

Source: Reuters reports on spot gold, 5 November 2026; MCX and India bullion rates, 5 November 2026.

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