Gold and Silver Trim Post-Midterms Rebound as AI Tech Stocks Slump

AI desk brief

Gold retreated to $4078 in late London trade Thursday after reaching $4146, while silver fell $1.50 from its rebound to $53.48 amid a 5.0% Nasdaq 100 slump. US 10-year nominal yields fell 7 basis points this week to 4.87%, but TIPS real yields rose 3 basis points; higher real yields and Thursday’s dollar recovery could constrain bullion, although gold’s recent correlation with real yields was positive. Metals Focus said Democratic control of Congress would curb Trump’s fiscal agenda, but meaningful deficit reduction remained unlikely, with heavy borrowing potentially limiting longer-term yield declines.