{"id":74174,"date":"2026-11-04T22:38:15","date_gmt":"2026-11-05T02:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-surges-above-4100-as-u-s-midterm-results-trigger-dollar-slump\/74174\/"},"modified":"2026-11-04T22:38:15","modified_gmt":"2026-11-05T02:38:15","slug":"gold-surges-above-4100-as-u-s-midterm-results-trigger-dollar-slump","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-surges-above-4100-as-u-s-midterm-results-trigger-dollar-slump\/74174\/","title":{"rendered":"Gold Surges Above $4,100 as U.S. Midterm Results Trigger Dollar Slump"},"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 nearly 2% to reach $4,134.67 per ounce<\/strong>, extending a massive rally fueled by a &quot;blue sweep&quot; in the U.S. midterm elections.<\/li>\n<li><strong>The Indonesian Rupiah advanced to 18,060 per dollar<\/strong>, recovering from record lows as the U.S. dollar and Treasury yields retreated globally.<\/li>\n<li><strong>Former Politburo member Ma Xingrui has been indicted for bribery<\/strong>, marking a significant escalation in China&#39;s long-running anti-corruption campaign.<\/li>\n<li><strong>Democratic control of both U.S. congressional chambers<\/strong> has led markets to price in potential political gridlock, weighing heavily on the greenback.<\/li>\n<\/ul>\n<h2>Gold Hits New Heights Amid U.S. Political Shift<\/h2>\n<p><strong>Spot gold<\/strong> extended its aggressive rally on Thursday, climbing roughly <strong>1.8% to $4,134.67 per ounce<\/strong>. This follows a historic session where the precious metal reclaimed the <strong>$4,000 threshold<\/strong>, marking its largest single-day gain since August. The surge is primarily attributed to the <strong>U.S. midterm election results<\/strong>, which saw Democrats secure control of both the House and Senate, triggering a sharp decline in the <strong>U.S. Dollar Index (<a href=\"\/stock\/DXY\">DXY<\/a>)<\/strong> and Treasury yields.<\/p>\n<p>Investors are flocking to bullion as a safe haven amid expectations that a divided government under President Donald Trump will face significant legislative hurdles. <em>Market analysts suggest that the &quot;blue sweep&quot; reduces the likelihood of further aggressive fiscal expansion<\/em>, which has cooled inflation expectations and lowered the opportunity cost of holding non-yielding assets like gold.<\/p>\n<h2>Rupiah Rebounds as Greenback Softens<\/h2>\n<p>The <strong>Indonesian Rupiah (<a href=\"\/stock\/IDR\">IDR<\/a>)<\/strong> strengthened to <strong>18,060 per U.S. dollar<\/strong>, a notable recovery after hitting record lows near 18,183 earlier in the week. The currency&#39;s advance was supported by the broader retreat of the U.S. dollar, which fell to a five-week low against a basket of major peers. Despite the daily gain, the rupiah remains under pressure due to domestic concerns, including <strong>Bank Indonesia&#39;s<\/strong> lowered 2026 growth projections of <strong>5.4%\u20135.5%<\/strong>.<\/p>\n<p><em>Central bank interventions and a stronger-than-expected trade surplus<\/em> have provided a floor for the currency, though analysts warn that high U.S. interest rates and volatile export earnings continue to pose risks. The <strong>Jakarta Interbank Spot Dollar Rate (JISDOR)<\/strong> had recently reached its weakest level in history, prompting <strong>Bank Indonesia<\/strong> to maintain an active presence in the NDF (Non-Deliverable Forward) markets to stabilize the exchange rate.<\/p>\n<h2>China Indicts Former Top Official Ma Xingrui<\/h2>\n<p>In a major development for Chinese domestic politics, state news agency <strong>Xinhua<\/strong> reported that <strong>Ma Xingrui<\/strong>, a former member of the elite <strong>Political Bureau<\/strong>, has been officially indicted on charges of accepting bribes. The <strong>Supreme People&#39;s Procuratorate<\/strong> announced the charges on Thursday, following Ma&#39;s expulsion from the Communist Party earlier this year.<\/p>\n<p>Ma, who previously served as the party chief of the <strong>Xinjiang<\/strong> region and spearheaded China&#39;s space program, is one of the highest-ranking officials to fall in President Xi Jinping&#39;s intensified anti-graft sweep. The indictment alleges a &quot;long list of violations,&quot; including <strong>power-for-money transactions<\/strong> and using his influence to secure contracts for relatives. This move is seen by experts as a clear signal of continued dominance by the current leadership ahead of the <strong>21st Party Congress<\/strong> in 2027.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold prices surged nearly 2% to reach $4,134.67 per ounce, extending a massive rally fueled by a &quot;blue [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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