Gold climbs modestly on Dhanteras as US election calm eases market

Gold prices in India rose modestly on Dhanteras, with 10‑gram 24‑carat gold quoted at Rs 1,46,030. The increase marks a Rs 715 rise since November 1, after a year‑long fall from the peak. Domestic spot gold closed the previous session on November 5 at Rs 14,602 per gram, according to Good Returns, and MCX futures for December delivery traded at Rs 1,42,192 at 9:11 AM on Friday, down from Rs 1,44,095.

International Trends

Globally, gold slipped 0.68 % to about $4,060 an ounce, while silver stayed near $52 after a small 0.15 % rise the day before. At 02:46 GMT US gold futures were 0.91 % lower at $4,075.90 per ounce, and silver fell 0.68 % to $53.02.

Market Drivers

The easing of a prolonged uncertainty period after the US midterm elections helped calm prices. Yet investors still watched political moves in the US, wondering if the Democrats’ strong win would push for an end to the Iran conflict. That speculation kept gold lower early on, as a possible peace could drop oil prices and ease inflation pressures.

Outlook

Analysts say future price moves will hinge on the US dollar, bond yields and the Federal Reserve’s policy stance. A sustained recovery will depend on those signals.

Context

Gold’s earlier surge this year was driven by global unrest and Indian policy cues, followed by a mid‑year correction. Today's modest rise reflects a shift from election‑driven volatility to a more cautious market outlook.