{
  "id": 17826875,
  "title": "Gold rises over 2% from one-year low on softer oil prices; US midterms in focus",
  "url": "https://urgent.news/2026/11/02/gold-rises-over-2-from-one-year-low-on-softer-oil-prices-us-midterms",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-02T16:24:07.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40447067/gold-rises-over-2-from-one-year-low-on-softer-oil-prices-us-midterms-in-focus"
  },
  "original_language": "en",
  "account": "Gold prices surged over 2% on Monday, recovering from a one-year low reached earlier in the week, as falling oil prices eased inflation concerns. Spot gold climbed 2.1% to $3,957.19 per ounce at 10:49 a.m. ET (14:11 GMT), after sinking 3.6% and hitting its lowest point since October 2025 on Friday. US gold futures for December delivery increased 1.77% to $3,967.40 per ounce. Oil prices plummeted over 6% on Monday, following Iran and Qatar's third day of talks to end the US-Israeli conflict. Peter Grant, vice president and senior metals strategist at Zaner Metals, explained that weaker oil prices had alleviated some inflation worries, while the dollar provided a slight boost to gold. The probability of a US rate hike in December dropped from 80% a week ago to 77%, according to CME Group’s FedWatch Tool. Silver prices rose 3.7% to $50.91 per ounce, breaking below the $50 mark for the first time since late November 2025. Platinum increased 1.9% to $1,457.96, while palladium held steady at $976.13, following earlier gains from their lowest levels in 13 and 17 months, respectively.",
  "summary": "Gold prices rose more than 2% on Monday, rebounding from a one-year low hit in the previous session, supported by a retreat in oil prices that tempered inflation worries, while investors awaited US midterm elections later this week. Spot gold rose 2.1% to $3,957.19 per ounce at 1049 a.m. ET (1411 GMT), having ended 3.6% lower and hit its lowest since October 2025 on Friday. US gold futures for…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}