Market Chatter: Democrats Win Control of US Congress in 2026 Midterm Elections; Gold Rises

04:08 AM EST, 11/04/2026 (MT Newswires) -- The Democratic Party has taken control of the US Congress, defeating President Donald Trump's Republicans by securing majorities in both chambers, according to preliminary election results reported by the Associated Press early Wednesday. Democrats flipped at least seven Republican-held Senate seats, including contests in Texas, Iowa, Kansas and South Carolina, while making gains in the House. The Democratic Party secured 54 seats in the 100-member Senate and gained 225 seats in the 435-member House of Representatives, crossing the 51-seat and 218-seat thresholds required for a majority, respectively, as per early election night tallies. Gold prices rose Wednesday, with spot gold climbing 2.7% to $4,034.90 per ounce by 3:41 am ET. Spot silver also jumped 4.3% to $51.79 per ounce around the same time. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)