XAU/USD tops $4,100 as US dollar hits monthly lows on Democrat midterm sweep
The US Dollar Index came under significant downward pressure and slid toward the 101.00 level, reaching monthly lows. The source gives no percentage or pip figures for the move. The selloff followed early results from the 2026 US midterm elections, which indicated a sweep by the Democrats. Gold rose alongside the dollar's decline and surged past $4,100. The source provides no additional economic data, central bank commentary or further technical levels beyond the 101.00 area on the Dollar Index and the $4,100 mark in gold. For traders, the election outcome is the main near-term driver of dollar direction. The 101.00 area on the Dollar Index is the level to watch for signs of extended weakness or stabilisation. Gold holding above $4,100 would signal continued demand while the dollar stays under pressure. Final election results may bring further volatility across USD pairs.
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