Gold prices rebounded on Monday, November 9, 2026, after a brief decline on Friday. The precious metal climbed above $4,100 an ounce, resuming its upward trend after briefly dipping below the $4,000 support level. The rally had been spurred by the results of the US midterm elections but stalled late last week due to strong jobs data, which reinforced expectations of a Federal Reserve interest rate hike to curb inflation.
Meanwhile, oil prices extended their fall, and technology stocks faced pressure as an investigation into Nvidia Corp.'s chief executive officer unfolded. These factors contributed to the shift in market sentiment, with gold benefiting from its status as a safe-haven asset.
The Federal Reserve's potential rate hike in December remains a key focus for investors, as higher interest rates typically weigh on non-yielding assets like gold. Despite the recent volatility, bullion has maintained its upward momentum, supported by geopolitical uncertainties and sustained demand.