Gold Rises from One-Year Low
Gold prices rose after a sharp drop, driven by easing inflation concerns and expectations surrounding the US elections, despite selling pressure in the tech sector.
Translated by Qiyas from الجريدة — Original source
Gold prices recovered today after hitting their lowest level in a year during the previous session, as falling oil prices eased inflation concerns and investors shifted their focus to tomorrow’s U.S. midterm elections and their potential impact on fiscal policy.
Spot gold rose 0.7% to $3,902.03 per ounce, after closing Friday down 3.6% at its lowest since October 2025. U.S. December gold futures rose 0.3% to $3,911.50.
Analysts said heavy selling in technology and artificial intelligence stocks on Friday prompted investors to rush to raise liquidity, forcing them to sell safe-haven assets, including gold.
Nikos Tzabouras, an independent financial markets analyst, said “optimism about a diplomatic breakthrough between the United States and Iran, along with renewed doubts about the sustainability of the AI boom, raised questions about whether the Federal Reserve (the U.S. central bank) needs to continue tightening monetary policy, which helped gold recover. However, this recovery may be short-lived.”
Tzabouras said: “Markets are likely to approach the midterm elections cautiously, which could mark a turning point in the Middle East conflict, while selling in the technology sector may continue, prompting investors to sell gold to cover losses in other investments, which could put pressure on the precious metal.”
Among other precious metals, spot silver rose 2% to $50.08 per ounce, after falling below $50 on Friday for the first time in 11 months.
Platinum fell 0.2% to $1,428.45, after hitting a 13-month low on Friday, while palladium dropped 0.8% to $968.59, after reaching a 17-month low on Friday.
