Gold Price Forecast: Gold Surges Past $4,100 on US Midterms as Market Focuses on October Non-Farm Payrolls - TradingKey

AI desk brief

• Gold reached $4,138.06 in the November 5 Asian session after gaining 3.31% Wednesday. TradingKey attributes the rebound to dollar and Treasury-yield declines following reported Democratic control of both congressional chambers; the year is unspecified.
• The report cites CME FedWatch pricing an 81.8% probability of a December hike. It argues weaker October payrolls and slower wages on November 6 could support gold, while robust employment could constrain gains; nominal-yield declines alone do not establish lower real yields.
• TradingKey requires a daily close above $4,100 to strengthen the bullish setup toward $4,200–$4,230. Losing $4,100 instead exposes $4,080, then $4,000.