Gold Hits $4,000 as Democrats Sweep Congress Today

Gold reclaimed 4,000 dollars overnight after Democrats swept control of Congress. As flagged in Tuesday's evening review, the S&P 500 cash close was 7,568.92. Overnight S&P 500 futures last printed about 7,568, labeled overnight futures (Yahoo Finance as of 06:25 UTC). US cash opens at 16:30 Cyprus (14:30 UTC).

The Setup: Asia Sold Hard, Then Recovered Into the Close

The S&P 500 closed 7,568.92 on Tuesday, up 0.36 percent (CNBC, MarketWatch, Yahoo Finance), range 7,545.39 to 7,594.61. Nasdaq closed 25,372.01 (+0.83%). The Dow closed 51,786.72 (-0.38%). Overnight S&P 500 futures last printed about 7,568, labeled overnight futures (Yahoo 7,567.75 as of 06:25 UTC), range 7,490.0 to 7,633.5, through Tuesday's cash floor. Nasdaq-100 futures last printed about 28,159 (-0.52%) after Pepperstone had them down 2.3 percent at the Asia low. Japan's Nikkei last printed 62,022 (-1.68%) after Asahi/AP had 60,835 (-3.6%) at 13:50 JST; low 60,030. Kospi last printed 5,657 after a 5,422 low. Hang Seng last printed 23,780 (+1.08%), labeled Wednesday session. Dollar index about 101.52 (-0.34%). Catch up: Tuesday's morning analysis and the week ahead. S&P bullish trigger: reclaim 7,633.5, then Monday's 7,662.23. Bearish trigger: a slip through 7,490.

Story of the Day: Democrats Sweep Congress and AI Spend Gets Repriced

Associated Press called a Democratic Senate majority. Reuters said Democrats took both the Senate and the House, with wins in South Carolina, Texas, and Ohio. Pepperstone put the scale at about 55 Senate seats and more than 250 House seats. Reuters said investors fear tougher AI rules and a slower data-center buildout. Kitco's Christopher Vecchio argued that mix could cut business investment and ease Fed hike pressure, supporting gold. AMD still beat after Tuesday's close: revenue 13.38 billion dollars, Data Center sales a record 8.5 billion (up 97 percent), and a fourth-quarter guide of about 17 billion (AMD 8-K). Cash closed 483.90 dollars. Pepperstone then printed an after-hours high at 529.94 before a 5.9 percent fade from that high. The beat did not hold the AI complex overnight. None of this is a recommendation.

Gold Reclaims 4,000 Dollars on the Sweep

Spot gold last printed 4,014.10 dollars (Kitco as of 1:29 a.m. ET November 4 / 08:29 Cyprus), up 2.16 percent from Tuesday's 3,929.40 close. Range 3,919.00 to 4,022.40. TradingView sat at 4,009.62, 0.11 percent apart. COMEX gold futures last printed 4,021.6, up 2.06 percent from Tuesday's 3,940.40, range 3,928.2 to 4,032.4 (Yahoo Finance as of 06:25 UTC). A 2 percent-plus overnight jump is large enough to matter beyond the session. Kitco's sources tied it to a weaker dollar, falling real yields, and protection if a Democratic Congress constrains the remaining Trump agenda. The hourly chart below covers the last 48 hours on Yahoo Finance.

Gold bullish trigger: a hold through Kitco's 4,022.40, then COMEX 4,032.4. Bearish trigger: a slip through 3,919.00, then Friday's 3,875.65 52-week low.

Oil Steadies Near Tuesday's Settle

West Texas Intermediate last printed 96.42 dollars (Yahoo Finance as of 06:25 UTC), up 0.34 percent from Tuesday's 96.09 settle. Oilpriceapi sat at 96.27. MarketWatch sat at 96.25, all under 1 percent apart. Overnight range 94.90 to 97.15. Brent last printed 104.06 against Tuesday's 103.60. EIA inventories print at 17:30 Cyprus (15:30 UTC) after last week's 1.892 million-barrel draw. Oil bullish trigger: a hold through 97.15, then Tuesday's 98.82 high. Bearish trigger: a slip through 94.90, then Tuesday's 93.59 low.

Bitcoin Holds the Overnight Bounce

Bitcoin last printed about 77,730 dollars (TradingView). Yahoo Finance sat at 77,925 as of 06:35 UTC, 0.25 percent apart. Yahoo session range 75,710 to 77,926. Ether last printed about 2,290 dollars (TradingView 2,289.7; Yahoo 2,294.95). Prints labeled intraday. Bitcoin bullish trigger: a reclaim of 77,926. Bearish trigger: a slip through 75,710.

What's Next: Eurozone CPI, ADP, Then ISM Services

Eurozone flash CPI prints at 12:00 Cyprus (10:00 UTC), seen at 3.9 percent headline and 2.5 percent core after 3.8 percent and 2.5 percent. Guide: the CPI explainer. Uber reports before the open at 14:00 Cyprus (12:00 UTC). ADP prints at 15:15 Cyprus (13:15 UTC), seen at +75,000 after +90,000. Treasury refunding is at 15:30 Cyprus (13:30 UTC). Cash opens at 16:30 Cyprus (14:30 UTC). ISM Services at 17:00 Cyprus (15:00 UTC), seen at 54.8 after 54.9. EIA at 17:30 Cyprus. Qualcomm after the close at 23:00 Cyprus (21:00 UTC). Thursday: Bank of England. Friday: payrolls, the jobs-report guide. Docket: the calendar. Scenarios to watch: a hot euro-area core print, or ISM Services through 52 into payrolls. None of this is a recommendation.

For live prices see the ThriveInMarkets homepage. None of the above is a recommendation. US cash closes are Tuesday, November 3, 2026. Overnight prints are Wednesday, November 4, 2026.