Spot gold traded near $4,125 an ounce on Thursday, up about 1.6%, while Brent crude slipped toward $94 a barrel. A morning snapshot put gold at $4,124.93, silver at $52.58, up 0.65%, and Brent at $94.29, down 0.35%. Anadolu Agency said gold had touched a two-week high near $4,150 before trading at $4,134 by 06:08 GMT, and that Brent had fallen under $94 to a two-month low before a print of $94.33. Wednesday's levels near $4,032 and $104 are in yesterday's commodities note.
Oil's fourth down day follows the election result
Moneycontrol said Brent futures were down 97 cents, or 1.03%, at $93.65, with WTI down $1.14, or 1.29%, at $86.98. Both benchmarks had fallen more than 8% in the previous session to the lowest settle since 31 August. Traders tied the slide to hopes that a Democratic Congress makes a wider US-Iran fight less likely. Anadolu put WTI near $87.34 after a dip to $86.66.
The same reports tied gold's rally to a weaker dollar and a 10-year Treasury yield near 4.87%. Analyst Linh Tran said flows and lower yields could support a move toward $4,200 to $4,400, while an 82% chance of a December Fed hike remains a headwind. Bitcoin back above $80,000 is in the markets story. Friday's jobs report is in the economy briefing. More prices on the commodities desk.