Gold Nears $3,950 as Investors Flee Tech Rout
Written by AI from riotimesonline.com's report. Not checked by a person.
Gold surged nearly 2% to $3,948 per ounce as the global technology selloff drove investors into safe-haven assets, even as the precious metal remains well below its late-January 2026 peak near $5,500.
On November 3, 2026, gold prices surged 1.87% to US$3,948 per troy ounce, approaching the psychologically significant $4,000 level, as the global selloff in technology and semiconductor stocks pushed investors toward traditional safe-haven assets. The move was amplified by a softening US dollar index, which eased 0.07% to 101.805, and falling Treasury yields, with the US 10-year yield declining to 4.909% — though still hovering near the closely watched 5% threshold. Despite the day's strong gains, gold remains approximately 28% below its late-January peak near $5,500, reflecting how far the metal has retreated from the heights of geopolitical and inflationary anxiety earlier in the year. The broader market context showed a bifurcated session: while the Nasdaq Composite fell 1.07% and the S&P 500 lost 0.51%, the Dow Jones Industrial Average gained 0.41%, suggesting defensive rotation was concentrated in safe havens and value stocks rather than broad panic. Oil added to the nervous mood: the US Oil Fund (USO), which tracks crude futures, dropped 7.1% to US$156.87 on Monday. Looking ahead, Wednesday's ADP private payrolls report and ISM services data will be closely watched, as will Brazil's Copom interest rate decision, with the Selic currently at 13.75% and forecasts for the outcome still divided.
