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Daily gold digest · 3 November 2026

Gold News, 3 November 2026: 7 stories moving XAUUSD

Gold kept most of Monday’s bounce on US midterm election day: spot traded around $3,940 in Asia after a 1.8% rise from last week’s one-year low, helped by a 7.6% fall in Brent on signs of US-Iran talks and a softer dollar. The Reserve Bank of Australia raised rates to an 18-year high, JOLTS job openings are out tonight at 15:00 GMT (20:30 IST) and the vote count starts after US polls close, with a December Fed hike still priced at roughly 73-75%.

Gold spot$3,922.8−20.1 (−0.51%)NextUS JOLTS job openings (September)in 9h 6m · Tue 15:00 GMTMarket openpause in 16h 6mRange$48.0

Gold holds near $3,940 after a 1.8% rebound as Brent sinks 7.6% and the RBA hikes

01
Technicals

Gold rebounds 1.8% from its one-year low as oil slides and yields ease

Spot gold was near $3,945.80 an ounce in Monday’s US session, up $71.40 (1.84%), and silver rose 3.67% to about $50.80, Kitco reported, as the fall in crude eased inflation worries. The 10-year Treasury yield slipped to about 4.9% and the dollar was generally softer. Futures still put the chance of a December Fed hike near 75%, which Kitco said continues to limit how far the recovery can go.

Why it matters for gold:

A bounce driven mainly by cheaper oil and lower yields can fade quickly if those reverse, so the real test is whether gold can hold above the broken $3,900-4,000 area that acted as support in October. Our chart of the day marks the levels on the latest hourly chart, and the COT positioning guide shows whether futures funds are returning.

Source: Kitco

02
Geopolitics

Brent settles 7.6% lower at $104.77 as Iran signals room for peace talks

Brent fell $8.66 (7.63%) to settle at $104.77 a barrel and WTI dropped $7.66 (7.36%) to $96.46, News Karnataka reported, after Iran’s President Masoud Pezeshkian said the Supreme Leader had given the government more authority to pursue talks and President Trump said a deal could happen. Prices steadied in early Asian trade on Tuesday, with Brent near $105.25, after a Wall Street Journal report of a US strike on Iran’s Qeshm Island that US officials described as defensive.

Why it matters for gold:

Oil has been the main channel from the Iran war to US inflation and December hike bets, so a big drop in crude eases pressure on gold through lower yields and a softer dollar. The reverse is also true: crude rose more than 10% in October, and one headline can undo a day’s move. Our gold and oil guide explains how the two interact, and the markets board shows oil, the dollar and yields next to gold.

Source: News Karnataka (Reuters, WSJ)

03
Data

ISM manufacturing rises to 55.5 as the prices index cools to 75.2

The October ISM manufacturing PMI rose to 55.5 from 54.5, ISM chair Susan Spence said, with production up to 59.0 and new orders at 55.5, while employment slipped to 52.4. The prices index eased to 75.2 from September’s 77.9 but stayed high. Kitco said the headline beat forecasts of about 54.7.

Why it matters for gold:

A strong headline would normally weigh on gold, but the softer prices index took some heat out of December hike worries, and gold kept its gains. ISM services follows on Wednesday at 15:00 GMT (20:30 IST); our ISM services guide explains why its prices index matters even more. The ISM manufacturing event page has the hour-by-hour history.

Source: Institute for Supply Management (via Mining Stock Education); Kitco

04
Central banks

RBA raises rates to 4.85%, an 18-year high, in a 6-3 vote

The Reserve Bank of Australia lifted its cash rate by 25 basis points to 4.85%, its fifth increase this year and the highest level since late 2008, ABC News reported; three board members wanted to hold at 4.60%. The bank said its inflation outlook was revised materially higher, partly on fuel costs linked to the Middle East conflict, and Governor Michele Bullock said inflation is too high and likely to stay higher for longer. The Australian dollar slipped 0.3% to 69.76 US cents, and spot gold was about 1.5% higher near $3,955 in early trade.

Why it matters for gold:

Another major central bank hiking against energy-driven inflation keeps the global rate backdrop hard for a metal that pays no interest. The split vote and UBS calling the statement clearly dovish suggest the cycle may be near its end in Australia. The Bank of England decides on Thursday. Our gold strength meter shows how gold has done in Australian dollars and eight other currencies.

Source: ABC News (Reserve Bank of Australia)

05
Dollar

Dollar index hits 101.44, its lowest since September, then steadies near 101.8

The dollar index fell to 101.44 on Monday, its lowest since September, and steadied near 101.8 on Tuesday, Trading Economics reported, as falling oil and signs of US-Iran diplomatic progress cut demand for the dollar as a haven. Prediction markets give the Democrats about a 74% chance of winning the Senate in today’s midterms, and markets price roughly a 73-75% chance of a 25 basis point Fed hike in December.

Why it matters for gold:

A softer dollar makes gold cheaper for buyers outside the US, and it has been one of the few tailwinds this month. US results arrive during the thin Asian session on Wednesday, when prices can jump on small orders. Our gold vs the dollar index guide shows how the relationship has worked since 2000, and the election-night guide lists poll-closing times by zone.

Source: Trading Economics

06
Jobs

JOLTS tonight at 15:00 GMT: August job openings were 7.08 million with a 1.9% quits rate

The Bureau of Labor Statistics publishes September job openings today at 10:00 am New York time (15:00 GMT, 20:30 IST). In the last report, openings were little changed at 7.079 million (a 4.3% rate), hires were 5.19 million and quits 3.07 million, a 1.9% quits rate; July openings were revised up by 64,000 to 7.3 million. October payrolls follow on Friday 6 November at 13:30 GMT (19:00 IST).

Why it matters for gold:

JOLTS is older data than the jobs report, so gold’s reaction is usually smaller: across the last 12 releases the average release-hour move was about $14 in our futures data. A big drop in openings or quits would point to a cooler labour market and could help gold; a jump would back the hike case. Our JOLTS event page has the full history and a calendar reminder, and today’s JOLTS and gold guide explains what to watch.

Source: US Bureau of Labor Statistics

07
India

India: MCX gold falls about ₹1,190 and silver ₹4,500 as spot slips to $3,940

MCX gold futures were down ₹1,192 (0.85%) at about ₹1,38,994 per 10 grams at 10:40 IST, near a day low of ₹1,38,800, and MCX silver fell ₹4,506 (2.5%) to ₹1,79,273 per kg, GoodReturns reported. Spot gold was down about 0.5% near $3,940 and spot silver about 2% lower near $49.70 at 9:11 IST. Retail 24-carat gold was listed at ₹1,39,640 per 10 grams and 22-carat at ₹1,28,000 at 11:04 IST.

Why it matters for gold:

Indian futures follow spot gold and the rupee together, so Tuesday’s dip came mostly from the dollar price easing after Monday’s jump. Dhanteras falls on Friday, the same day as the US jobs report. Our gold rate in India page converts spot to rupees per 10 grams, and MCX gold vs XAUUSD explains how the two contracts differ.

Source: GoodReturns

← 2 November 2026Live news, calendar & levels

Summaries are written by XAUUSD Global from the linked sources. Educational content only, not financial advice.

Daily surprise · Tuesday 3 November 2026

Something new about gold, every day

Today’s gold fact

November since 2001

Gold rose in 14 of the last 25 Novembers. The best was 2008 (+13.9%), the worst 2016 (−7.9%), month-end COMEX settlements.

Gold in November 2008
Pattern of the day

The busiest hour for gold

From 30 Oct 2024 to 30 Oct 2026, gold's widest average hourly range came at 14:00 London time ($27.35), the narrowest at 21:00 ($11.51). Hourly COMEX bars, 11,443 of them.

When gold moves the most

Computed from XAUUSD Global’s own data: COMEX gold futures settlements and hourly bars, and our NFP, CPI and Fed studies. A new pair every day. Past behaviour is history, not a forecast. Education, not signals.

Weekly gold forecast

The levels for the week

How today’s news fits the week: the rule-based bias, the statistical range and the weekly pivot. See how past weeks scored. Education, not signals.

Gold this week week of 2 Nov

Full forecast
  • BiasLean lower
  • Statistical band$3,766 – $3,959
  • Last close$3,862.4
  • Weekly pivot$3,931.3

Rule-based bias and a statistical band for spot XAUUSD, not a prediction. Education, not signals.