November 5, 2018 -- Gold and silver prices rallied higher late last week, ending the week essentially flat overall. The metals got some safe-haven buying and moved higher despite some modest gains in the dollar and surge in interest rates.

Tomorrow’s midterm election will be the major story in the markets this week.

That will be particularly true if the outcome is a surprise and either Democrats win outright control of both houses, or if Republicans hold on to outright control. Current projections are that Congress will wind up split with Democrats in control of the House and Republicans in control of the Senate.

Gold closed last week above its 100-day moving average and looks pretty healthy on the charts. Other considerations aside, the metal is well positioned for more gains.

Gold is in part a beneficiary of all the recent volatility in stock prices. Regardless of the favorable charts, the fate of precious metals in the days ahead is likely hinged upon the equity markets and how stock prices respond to tomorrow’s election.



Check out live precious metals prices here:
https://goo.gl/gy5XMA