US midterm elections impact on gold, silver prices in India: How Donald Trump's loss is affecting precious metals rates - Livemint

AI desk brief

December MCX gold and silver futures rose 2.35% and 3.85% on Wednesday, respectively; the report attributes the rebound to dollar weakness following reported Democratic victories in US congressional elections. Lemonn’s Gaurav Garg cited spot gold above $4,040/oz and silver approaching $52/oz, but called the election outcome a short-term catalyst rather than sufficient grounds for a sustained rally. Capital Economics’ Hamad Hussain warned that an expected hawkish Fed response to sticky inflation could limit gains, while technology-stock weakness could weigh on gold. For Indian buyers, rupee appreciation could partially offset international bullion gains.