Business · Markets · 13 hrs ago
Gold rises above $4,100 as oil falls and tech shares face pressure
Gold rose above $4,100 an ounce, recovering its losses from Friday.
The rise came as oil prices fell and a weaker US dollar supported commodities priced in dollars.
An investigation involving Nvidia CEO Jensen Huang weighed on technology shares, unsettling investors and increasing gold’s appeal as a safe haven.
Gold had also been supported by uncertainty after US midterm election results, but strong jobs data had recently slowed its rally by strengthening expectations of higher interest rates.
The Federal Reserve is still expected to raise rates in December, as energy prices remain high, though higher rates can make gold less attractive because it pays no interest.
Upcoming US inflation data will test whether safe-haven demand can keep gold rising despite shifting rate expectations and Treasury yields.
Gold rose above $4,100 an ounce as oil extended its decline and pressure on technology shares lifted demand for safe-haven assets.
The dollar also edged lower, supporting commodities priced in the currency.
Oil extended its biggest weekly drop since April 2020 as traders weighed diplomatic efforts to end the US-Iran conflict against new attacks in the region.
An investigation involving Nvidia CEO Jensen Huang weighed on Asian technology shares and threatened fragile risk appetite.
Expectations of a possible Federal Reserve rate increase remained a headwind for gold, which does not pay interest.
- Who
- Gold prices rose; traders weighed oil prices, technology shares and interest-rate expectations.
- What
- Gold climbed above $4,100 an ounce, recovering from Friday's decline.
- When
- Monday, November 9, 2026.
- Where
- Not stated.
- Why
- Falling oil prices, pressure on technology shares and a weaker dollar supported gold, while its safe-haven appeal also increased.
This story does not have two clearly opposing sides.
Gold declined as strong US jobs data reinforced expectations that the Federal Reserve would raise interest rates.
Gold rose above $4,100 an ounce as oil extended its decline and technology shares faced pressure.
- Gold price
- Above $4,100 an ounce
- Oil decline
- Biggest weekly drop since April 2020
- Technology company
- Nvidia
- Nvidia CEO
- Jensen Huang
- US jobs report
- Employment growth jumped in October and the unemployment rate edged lower
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What people are saying
Political uncertainty provides a cushion under gold prices, while shifting Fed expectations and Treasury yields keep any recovery on a tight leash. CPI data will be the next battleground, testing whether safe-haven demand can muster enough firepower to break through the dollar-driven ceiling