{"id":74124,"date":"2026-11-04T05:38:17","date_gmt":"2026-11-04T09:38:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-surges-as-us-election-results-trigger-dollar-sell-off-google-pledges-15b-to-malaysia\/74124\/"},"modified":"2026-11-04T05:38:17","modified_gmt":"2026-11-04T09:38:17","slug":"gold-surges-as-us-election-results-trigger-dollar-sell-off-google-pledges-15b-to-malaysia","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-surges-as-us-election-results-trigger-dollar-sell-off-google-pledges-15b-to-malaysia\/74124\/","title":{"rendered":"Gold Surges as US Election Results Trigger Dollar Sell-Off; Google Pledges $15B to Malaysia"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> surged over 2% to reclaim the $4,000 level<\/strong> as a Democratic sweep in the US midterm elections pressured the US dollar and Treasury yields.<\/li>\n<li><strong>Alphabet Inc.&#39;s Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) announced a massive $15 billion investment in Malaysia<\/strong> for 2027\u20132028, targeting data centers, clean energy, and workforce development.<\/li>\n<li><strong>Eurozone economic growth slowed to a four-month low in October<\/strong>, with the Composite PMI falling to <strong>51.7<\/strong>, down from a preliminary estimate of 51.9.<\/li>\n<li><strong>Spain\u2019s Transport Minister \u00d3scar Puente resigned<\/strong> following a fatal train accident; Deputy PM <strong>Carlos Cuerpo<\/strong> will temporarily assume the portfolio.<\/li>\n<li><strong>US Treasury yields fell below 4.95%<\/strong> as markets anticipated legislative gridlock in Washington, potentially curbing future federal spending.<\/li>\n<\/ul>\n<h2>Markets React to Democratic Midterm Victories<\/h2>\n<p>The global financial landscape shifted significantly on Wednesday as results from the 2026 US midterm elections confirmed a <strong>Democratic Party<\/strong> sweep of both the House and Senate. This &quot;blue wave&quot; has introduced the prospect of legislative gridlock for the remainder of President Trump\u2019s term, leading investors to scale back expectations for further fiscal expansion and tax cuts. Consequently, the <strong>US Dollar Index<\/strong> slipped below <strong>101.5<\/strong>, touching its lowest level in five weeks, while the benchmark <strong>10-year Treasury yield<\/strong> retreated below the <strong>4.95%<\/strong> mark.<\/p>\n<p>The weakening dollar provided a powerful tailwind for precious metals. <strong>Spot gold (XAU\/USD)<\/strong> jumped as much as <strong>3%<\/strong> in intraday trading, comfortably reclaiming the <strong>$4,000 per ounce<\/strong> psychological threshold to trade near <strong>$4,024<\/strong>. Analysts suggest that a Democratic-controlled Congress may impose stricter regulatory frameworks on the technology sector and artificial intelligence infrastructure, which could further dampen broader economic growth projections and influence future Federal Reserve policy.<\/p>\n<h2>Google\u2019s $15 Billion Commitment to Malaysia<\/h2>\n<p>In a major boost for Southeast Asia\u2019s digital economy, Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) has unveiled plans to invest <strong>$15 billion<\/strong> in Malaysia between 2027 and 2028. This multi-year initiative will focus on the construction of advanced <strong>data centers<\/strong>, the procurement of <strong>clean energy<\/strong>, and initiatives for <strong>water security<\/strong> and <strong>workforce upgrading<\/strong>. The tech giant noted that its Malaysian campuses aim to operate with a highly efficient Power Usage Effectiveness (PUE) of <strong>1.12 to 1.14<\/strong>, while committing to cover 100% of the power and infrastructure costs required to connect these facilities to the national grid.<\/p>\n<h2>Eurozone Growth Loses Momentum<\/h2>\n<p>Economic activity across the Eurozone showed signs of cooling at the start of the fourth quarter. The <strong>S&amp;P Global Eurozone Composite PMI<\/strong> fell to <strong>51.7<\/strong> in October, down from <strong>53.1<\/strong> in September and lower than the preliminary &quot;flash&quot; reading of <strong>51.9<\/strong>. While the index remains above the 50.0 mark that separates expansion from contraction, the data signals the slowest pace of growth in four months.<\/p>\n<p>The slowdown was particularly evident in the services sector, where the <strong>Services PMI<\/strong> dropped to <strong>51.4<\/strong> from September\u2019s <strong>53.0<\/strong>. Economists noted that while Germany and Italy maintained modest growth, <strong>France<\/strong> returned to contractionary territory amid domestic political uncertainty. Rising input costs, driven by energy prices, have also pushed cost pressures to their sharpest level since May, further squeezing corporate margins.<\/p>\n<h2>Political Shakeup in Spain<\/h2>\n<p>In European political news, Spanish Prime Minister <strong>Pedro S\u00e1nchez<\/strong> announced that Deputy Prime Minister <strong>Carlos Cuerpo<\/strong> will temporarily take over the Ministry of Transport and Sustainable Mobility. This follows the resignation of <strong>\u00d3scar Puente<\/strong>, who stepped down &quot;out of dignity&quot; and respect for victims following a tragic high-speed rail accident near Toledo that claimed 69 lives. The leadership transition comes at a sensitive time for the Spanish government as it prepares for general elections scheduled for November 29.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold prices surged over 2% to reclaim the $4,000 level as a Democratic sweep in the US midterm 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