New Delhi, November 2, 2026: Gold prices recovered on Monday after touching a one-year low, as a decline in oil prices eased some inflation concerns and investors reassessed the outlook for interest rates.
Reuters reported that spot gold was up 0.6% at $3,899.29 an ounce, while US gold futures for December delivery gained 0.3%. The recovery followed a sharp sell-off late last week, when investors raised cash amid weakness in technology and artificial-intelligence shares.
Oil prices and inflation expectations
Oil prices fell by more than 4% during the session amid hopes for progress in diplomatic efforts involving the United States and Iran. Lower energy prices can reduce inflation concerns and ease expectations that interest rates will need to remain high.
Investors watch US midterm elections
Markets are also watching the November 3 US midterm elections and their potential implications for fiscal policy, geopolitics and investor sentiment. Analysts cautioned that gold’s rebound may not necessarily mark a sustained reversal.
Precious-metal prices fluctuate through the trading day. Buyers should check current local rates, taxes and dealer premiums before making a purchase.
Source: Reuters, November 2, 2026.
