Gold rebounds above $3,900, silver jumps 3% after October rout

Gold and silver staged a recovery in Monday?s electronic trade, with gold climbing above $3,900 per ounce and silver surging nearly 3% towards $50 after a sharp October selloff. The rebound follows a difficult month in which both metals suffered significant losses, with gold remaining below the crucial $4,000 mark. Silver had a particularly bruising October, plunging nearly ₹45,000 per kg on the MCX and slipping below ₹1.80 lakh, while gold retreated more than ₹40,000 from its record peak of ₹1.80 lakh per 10 grams. Investors are now watching the US midterm elections on November 3 for potential implications for fiscal policy and broader market sentiment. On the MCX, December gold futures edged up 0.14% to ₹1,38,640 per 10 grams, where as silver futures traded higher by Rs 32000 at Rs 182419 per kg.

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