Election rally underneath: Prices rose sharply

Gold prices surged after the U.S. midterm elections as the dollar and U.S. Treasury yields retreated, with spot gold climbing as much as 3% to $4,038 an ounce and gram gold rising to 6,483 Turkish lira. The rally reflects investors shifting toward safe-haven assets as dollar weakness and lower bond yields reduced the opportunity cost of holding bullion. The size of the move underscores how sensitive precious metals have become to U.S. currency and rate dynamics. Market participants will now watch whether the dollar and Treasury yields extend their decline, and whether gold can hold above the $4,000 threshold in the sessions ahead.