# Gold & Forex Daily Brief: Tue 3 Nov 2026 (US Midterms)

Source: https://fxdaily.news/blog/gold-forex-daily-brief-2026-11-03
Published: 2026-11-03 · Updated: 2026-11-03 · Type: Daily brief

**What is gold doing today, Tue 3 Nov 2026?** Gold (XAUUSD) traded at 3,921 at 11:09 PKT on Tue 3 Nov 2026. The bias is sell rallies with the turning point at 3840. High-impact news today: US midterm elections (all day) at — PKT and US JOLTS job openings (Sep) at 20:00 PKT.

**Today's bias: SELL rallies.** Gold is at **3,921** ([Kitco](https://www.kitco.com/charts/gold) spot bid 3,920.70, 11:09 PKT), down 25.00 (−0.63%) on the day, between the **3976–4001** weekly sell zone above and **3840–3875** weekly demand below. The weekly turning point is **3840**.

Gold gave back part of Monday's bounce in Asia. Kitco shows a range of 3,916.00 to 3,965.50 so far today. Earlier, Indian bullion desks had spot near $3,940, down about 0.5% at 08:41 PKT, with silver down 2% near $49.70 ([Goodreturns](https://www.goodreturns.in/news/gold-rates-silver-rates-today-3-11-2026-live-spot-gold-silver-price-mcx-gold-24k-22k18k-gold-prices-1544811.html)). Monday's rally came from oil: Brent fell 7.6% to close at $104.77 and WTI 7.4% to $96.46 after the US and Iran signalled openness to talks, which pulled the 10-year Treasury yield down to 4.90% ([Mitrade](https://www.mitrade.com/insights/commodity-analysis/gold/gold-oil-tumbles-diplomacy-midterms)). Against that, US ISM Manufacturing beat at 55.5 (54.7 expected) with prices paid still high at 75.2, keeping the odds of a December Fed hike as high as 75% ([Mitrade](https://www.mitrade.com/insights/commodity-analysis/gold/gold-oil-tumbles-diplomacy-midterms)).

This morning the dollar index is up 0.1% at 101.81, recovering from a one-month low, and the 10-year yield is up 2.1 basis points at 4.913%. Asian stocks fell (MSCI Asia ex-Japan −0.9%), Brent is flat near $104.72, and the Wall Street Journal reported a US strike on Iran's Qeshm Island in the Strait of Hormuz even as Iran–Qatar talks continue ([The Star / Reuters](https://www.thestar.com.my/business/business-news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies)). Today is the US midterm vote: prediction markets put the chance of Democrats controlling the Senate at about 75% ([The Star / Reuters](https://www.thestar.com.my/business/business-news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies)). Results arrive during the Pakistan night, so expect wider spreads and gaps into Wednesday's Asian session.

There is no EFMS daily plan for 3 Nov yet, so today's levels come from **EFMS TRADE's weekly outlook for 2–6 Nov** ([this week's outlook](https://fxdaily.news/blog/gold-weekly-outlook-2-6-nov-2026)). One change since Monday: the weekly plan says an H1 close above 3950 cancels the 3940–3950 "trapped buyers" sell, and on Monday the 19:00 PKT H1 candle closed at 3964.2 (COMEX futures shifted to spot). That setup is off, so the next weekly sell is the 3976–4001 retracement zone.

## Today's signals

| Setup | Entry | Stop | Targets | R:R | Trigger |
| --- | --- | --- | --- | --- | --- |
| Sell · Retracement sell | 3976–4001 | 4015 | 3945 / 3880 | 4.09R | Rejection in 3976–4001 |
| Buy · Demand 1 | 3840–3875 | 3825 | 3943 / 3976 | 3.65R | M15/H1 reversal: sweep and close back above, no blind buying |

None of these is live until its trigger. Zones, stops, targets, R:R and triggers are exactly as in the weekly plan (R:R at the second target). The breakdown sell (H4 or daily close below 3840) and Demand 3 at 3756–3790 are too far from price for today. Every signal stays on [this week's signal results](https://fxdaily.news/signals).

## Price against the weekly plan

| Level | What it means today |
| --- | --- |
| 3976–4001 | Weekly retracement sell, today's sell signal. Monday's high stopped just below it. |
| 3950 | Weekly flip: Monday's H1 close above it cancelled the 3940–3950 sell. |
| 3,921 | Price now (Kitco, 11:09 PKT). |
| 3880 | Second target of the sell; just above weekly demand. |
| 3840–3875 | Weekly demand 1: buy only an M15/H1 reversal. |
| 3840 | Weekly turning point. An H4 or daily close below opens 3790, then 3674 / 3631. |

Price sits in the middle of the weekly map. The **retracement sell** is about $55 higher, above today's 3,965.50 high on Kitco, so it needs a fresh push up, for example on the midterm results or a soft JOLTS number. The **Demand 1 buy** is about $46 lower and needs a sweep and a close back above on M15 or H1, not a blind buy. See [this week's outlook](https://fxdaily.news/blog/gold-weekly-outlook-2-6-nov-2026) for the full weekly map.

## News today (Pakistan time)

| Time | Event | Impact |
| --- | --- | --- |
| All day | US midterm elections (results overnight PKT) | High |
| 20:00 | US JOLTS job openings (Sep) | High |
| 20:00 | US Factory Orders (Sep) | Low |

Times from [Finviz](https://finviz.com/calendar/economic?dateFrom=2026-11-02) (10:00 New York time), converted to PKT. Consensus: JOLTS 7.13M (previous 7.079M), factory orders +1.2% (previous +0.1%). US clocks are back on standard time, so US data at 8:30 New York time comes at **18:30 PKT**; London opens at **13:00 PKT**. Next: ADP employment Wednesday at 18:15 PKT, and the October jobs report Friday at 18:30 PKT. Stay flat 15 minutes either side of high-impact releases.

## Headlines

- **Gold:** Kitco spot bid 3,920.70 at 11:09 PKT, −0.63%, range 3,916.00–3,965.50 ([Kitco](https://www.kitco.com/charts/gold)).
- **Oil / Iran:** Brent −7.6% to $104.77 on Monday on hopes of US–Iran talks ([Mitrade](https://www.mitrade.com/insights/commodity-analysis/gold/gold-oil-tumbles-diplomacy-midterms)); WSJ reports a US strike on Qeshm Island ([The Star / Reuters](https://www.thestar.com.my/business/business-news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies)).
- **Dollar / yields:** DXY +0.1% to 101.81, US 10-year 4.913% ([The Star / Reuters](https://www.thestar.com.my/business/business-news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies)).
- **Fed:** ISM Manufacturing 55.5, prices paid 75.2; December hike odds up to 75% ([Mitrade](https://www.mitrade.com/insights/commodity-analysis/gold/gold-oil-tumbles-diplomacy-midterms)).

## Other markets

- **DXY:** EFMS weekly: a weekly close above 102.2 opens 103.2–103.5. Now 101.81.
- **XAGUSD:** EFMS weekly: sell only, sell rallies at 54–55; targets 46 and 45. Spot near $49.70.
- **BTCUSD:** EFMS weekly: sell from 79–80K. Bitcoin is near $77,100 after $4.72 billion of net withdrawals from Binance following last week's hack ([The Star / Reuters](https://www.thestar.com.my/business/business-news/2026/11/03/asian-stocks-retreat-ahead-of-us-midterms-oil-steadies)).
- **USOIL:** EFMS weekly: range trade, below 96 targets 87. WTI closed Monday at $96.46, right on that line.

## Disclaimer

This post is for education only and is not financial advice. Gold and forex trading carry high risk; news can cause gaps, slippage and wide spreads, especially around data releases and overnight election results.

Levels are based on EFMS TRADE's weekly outlook for 2–6 Nov ([this week's outlook](https://fxdaily.news/blog/gold-weekly-outlook-2-6-nov-2026)). Reference price: Kitco spot bid 3,920.70 at 11:09 PKT (01:09 New York time).

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Education only, not financial advice. FXDaily.news (FXD) is a free forex and gold news website for traders in Pakistan, also on Instagram as @fxnewsdaily.