Gold Up 4% Since US Midterms as Analysts Split on Metals' Next Move
Spot gold rose about 4% and silver more than 5% after the US midterms, Stocktwits reports, while Goldman Sachs cut its forecasts and Peter Schiff stays bullish.
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what happened
Gold and silver are regaining momentum after the US midterm elections, with spot gold climbing roughly 4% and silver adding more than 5%. Investors are receiving conflicting signals about how much further precious metals can run, according to Stocktwits.
Last week Goldman Sachs trimmed its gold forecasts: to $4,150 an ounce for end-2026 from $4,650, and to $4,800 for end-2027 from $5,400. Citing Investing.com, the bank's strategists, led by Lina Thomas, linked the revision to a more hawkish Federal Reserve and its effect on investor positioning. Goldman still sees a constructive long-term picture, supported by steady central bank purchases of roughly 60 tonnes a month through 2026 and 2027.
Long-time gold bull Peter Schiff argues the market is set for more upside. He points to rising government spending, widening deficits and inflation as drivers. The GDX gold miners fund jumped 9.6% over the week as broader indexes fell.
why it matters
The key question for markets is the Federal Reserve's path. If rates stay high or rise, Goldman sees downside risk for gold, while a start to rate cuts in the second half of 2027 would bring further support. The split between forecasts underlines how uncertain the outlook remains after a sharp move in the metals.
market impact
Gold and silver: post-election gains, but bank and investor forecasts diverge
tags
instruments
sources
- Gold Is Up 4% Since Midterms: Here’s Where Markets Think The Precious Metal Prices Are Headed — Stocktwits, 9 November 2026 at 02:18 UTC
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