Asian session spot gold and silver rose after U.S. midterms as U.S. Treasury
yields fell, lifting demand for precious metals. ANZ said in a research note
that lower yields typically support gold because it is a non-yielding asset, but
analysts added markets expect a Democratic win would tighten the U.S. fiscal
outlook, which could erode gold’s support over the longer term. Spot gold was up
over 1.7% intraday at $4,130/oz.
