Gold surpassed $4,000: The Iran detail in Trump's election defeat

Gold climbed back above $4,000 an ounce after Democrats won control of Congress in the U.S. midterm elections, a result that weakened the dollar and pushed Treasury yields lower. The shift in Washington is seen as a check on President Trump’s Iran policy, adding a geopolitical dimension to the rally. The move matters because it signals investors are pricing in both a softer dollar outlook and reduced risk of aggressive U.S. action against Tehran. Traders will now watch how the new congressional balance shapes sanctions and military posture toward Iran, and whether the dollar’s decline extends further.