Silver rose 5.1% on Nov. 4, outpacing gold, as the dollar index touched a one-month low and the 10-year Treasury yield declined amid projections of Democratic control of Congress.
Spot silver was quoted at $52.29 an ounce, while spot gold reached $4,061.30, up 5.1% and 3.4%, respectively. Front-month gold futures settled at $4,073, a 3.4% gain; silver futures ended at $52.28, up 5.1%. Silver's increase exceeded gold's by 1.7 percentage points in both spot and futures trading.
The U.S. Treasury's 10-year par yield fell five basis points to 4.90%, from 4.95% on Nov. 3. The dollar index also registered its lowest level in a month on Nov. 4.
At 11:36 p.m. ET Tuesday, Nov. 3, projections put Democrats in control of the Senate. A projection of Democratic control in the House came at 1:24 a.m. ET Wednesday, Nov. 4. The calls were projections, not state-certified final results.
An earlier EconoTimes report covered gold trading above $4,000 after the midterm projections.
