India, Nov. 4 -- Gold prices jumped nearly 3 percent on Wednesday, driven by a softer dollar and lower Treasury yields after Democrats took control of both houses of Congress in a dramatic win in the U.S. midterm elections. Softer oil prices also helped ease inflation concerns.
Spot gold soared 2.9 percent to $4,043.97 an ounce while U.S. gold futures were up 2.9 percent at $4,053.85.
The U.S. dollar dropped against all of its Group-of-10 peers while bond yields declined as a commanding "blue wave" forced traders to rethink President Trump's remaining policy agenda and the political trajectory into 2028.
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