Gold Price Today: $3,921 on Midterm Election Day as the…
By Tobi Opeyemi Amure
AI summary of the source article
Spot gold traded near $3,921 an ounce on Tuesday, down 0.65 percent as Monday's rebound stalled. Strong US factory data kept market expectations for a December Federal Reserve rate hike near 75 percent.
Why it matters
Analysts quoted by Mitrade state that "gold has to reclaim and hold $4,000 before the downside pressure eases," following damage to its technical structure.
Key facts
- Spot gold fell 0.65 percent to trade near $3,921 an ounce following a rebound from a one-year low of $3,870.27.
- The US ISM manufacturing PMI reached 55.5 for October with prices paid at 75.2, while the 10-year Treasury yield hovered near 4.90 percent.
- Markets are pricing an estimated 75 percent probability of a December Federal Reserve rate hike, with the fed funds rate at 4.00 percent.
Source excerpt · FinanceFeeds
Updated 3 November 2026. Spot gold is trading near $3,921 an ounce on Tuesday, down $25.56 or 0.65 percent, giving back part of Monday's rebound from Friday's one-year low of $3,870.27 (Trading Economics, 3 November). Americans vote in the midterm elections today, and oil is edging higher after a report of a US strike on Iran's Qeshm Island. Verdict: the bounce has stalled below $3,950 and strong…