Gold Prices After US Midterm Results: Do Gold and Silver Regain Shine for Dhanteras Gold Buying, and What Do Experts Expect by December 2026?

Gold prices after US midterm results jumped, and Dhanteras gold buying on 6 November 2026 starts from higher levels, with MCX December gold at Rs 1,45,146 per 10 grams, up 1.33%, as of about 4:15 PM IST on 5 November 2026. Silver was at Rs 1,89,021 per kg, up 0.69%. This guide covers what moved prices, what experts expect, the risks and how to compare ways to buy. It is not investment advice.

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Gold and Silver Prices Today

Instrument	Level	Change
MCX December gold (per 10 grams)	Rs 1,45,146	+1.33%
Day range (gold)	Rs 1,44,555 to Rs 1,46,109
MCX December silver (per kg)	Rs 1,89,021	+0.69%
COMEX December gold (settled 4 November)	USD 4,073 per ounce	+3.37%
COMEX December silver (settled 4 November)	USD 52.28 per ounce	+5.08%

MCX gold settled at Rs 1,43,234 on 4 November, up 2.71%, and silver at Rs 1,87,735, up 4.47%, according to Zee Business. Press reports said it was gold's biggest daily gain since mid-August. By our arithmetic, the gold-silver price ratio is about 77. Domestic retail prices differ from MCX futures because of GST, making charges and local rates.

Why Did Gold and Silver Rally After the US Midterms?

Press reports said the midterm results gave Democrats control of Congress. Analysts linked the metal rally to a weaker US dollar, which touched a one-month low, lower Treasury yields and political uncertainty over the policy agenda. Manoj Kumar Jain of Prithvi Finmart also pointed to a sharp fall in crude oil and the possibility of an end to the US-Iran conflict. These are market explanations and can change quickly.

The move follows a weak stretch. One market report said gold was still down about 6% to 7% in 2026 after falling more than 26% from a January record above USD 5,300, and silver was down about 28% for the year. The rally is a rebound, not a new high.

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What Experts Expect: Gold by December 2026

Source	View
Experts quoted by Mint	COMEX gold near USD 4,400 and Indian gold near Rs 1,55,000 per 10 grams by end of December 2026
Kotak Neo (Anindya Banerjee, to ANI)	MCX gold could rally towards Rs 1,55,000 to Rs 1,56,000; silver Rs 2,05,000 to Rs 2,10,000
Religare Broking	Gold targets of Rs 1.50 lakh and Rs 1.58 lakh; accumulation range Rs 1.30 to Rs 1.35 lakh; downside Rs 1.21 lakh
Axis Direct	Rs 1,65,000 to Rs 1,71,000 by next Dhanteras; resistance near Rs 1,60,000
Reuters poll of analysts (27 October)	Median 2026 average gold price of USD 4,495 per ounce

From the latest MCX price, Rs 1,55,000 is about 6.8% higher, and USD 4,400 is about 6.1% above the roughly USD 4,146 level reported on 5 November. These are opinions, not forecasts we endorse. Axis Direct also noted that gold is about 22% below its peak of Rs 1,80,000 and has returned nearly 8% since last Dhanteras.

Is Dhanteras a Good Time to Buy Gold? How to Compare Options

Way to buy	Points to check
Jewellery	Making charges, GST and BIS hallmark; resale value is often lower
Coins and bars	Purity, buyback terms and the premium over the market rate
Gold ETFs	No making charges; needs a demat account; check the expense ratio
Digital gold	Check the provider's storage, charges and regulation

A festival date does not change the price risk. Prices can move on global news before and after Dhanteras, so some buyers spread purchases over several weeks. Listed jewellers such as Titan and Kalyan Jewellers are also sensitive to gold prices and festive demand.

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Risks to Weigh

Risk	Why it matters
Rebound may fade	A relief rally after a weak year can reverse
US dollar and yields	A recovery in either can pressure gold
Rupee	Domestic prices also depend on the exchange rate
Forecast error	Targets from brokerages and experts can be missed
Import duty	Policy changes can affect domestic prices

Conclusion

Gold prices after US midterm results have recovered, and experts see further upside by December, but the move follows a sharp fall this year. For Dhanteras gold buying, compare the form, the price and the charges, and avoid committing more than you planned.

Frequently Asked Questions on Gold Prices After the US Midterm Results

Why did gold prices rise after the US midterm results?

Ans. Press reports linked the rise to a weaker US dollar, lower Treasury yields and political uncertainty after the midterms. A sharp fall in crude oil also helped. COMEX December gold settled at USD 4,073, up 3.37%, on 4 November.

What is the gold price today before Dhanteras?

Ans. MCX December gold traded at Rs 1,45,146 per 10 grams, up 1.33%, as of about 4:15 PM IST on 5 November 2026, with a range of Rs 1,44,555 to Rs 1,46,109. Retail prices differ because of GST, making charges and local rates.

What is the silver price today?

Ans. MCX December silver traded at Rs 1,89,021 per kg, up 0.69%, as of about 4:15 PM IST on 5 November 2026. COMEX December silver settled at USD 52.28 per ounce on 4 November, up 5.08%.

What do experts expect for gold by December 2026?

Ans. Experts quoted by Mint see COMEX gold near USD 4,400 and Indian gold near Rs 1,55,000 per 10 grams by end of December 2026. Kotak Neo sees MCX gold moving towards Rs 1,55,000 to Rs 1,56,000. Religare Broking lists targets of Rs 1.50 lakh and Rs 1.58 lakh.

Is it a good time to buy gold on Dhanteras?

Ans. Univest cannot say whether it is a good time. Dhanteras is a traditional buying day, but prices can change quickly with global news. Compare jewellery, coins, ETFs and digital gold on charges and purity, and avoid putting in more than you planned.

Is gold still below its record high?

Ans. Yes. One market report said gold fell more than 26% from its January record above USD 5,300 and was still down about 6% to 7% for 2026. Axis Direct said it was about 22% below the Rs 1,80,000 peak in rupee terms.

What are the risks of buying gold after a rally?

Ans. The rebound may fade if the US dollar or Treasury yields recover, and forecasts can be missed. Domestic prices also depend on the rupee and import duty. Jewellery adds making charges and usually has a lower resale value.

Should I buy gold or silver now?

Ans. Univest cannot give personal advice. Decide how much of your savings you want in precious metals, compare ways to buy, and consult a SEBI-registered adviser before acting on any target.