Precious metals rose due to the weakening of the US dollar and declining yields

According to Gate market data, following the Democratic victory in the U.S. midterm elections, precious metals have become the biggest winners. Ole S. Hansen, the chief strategist at Saxo Bank, stated that gold and silver prices have risen due to a weaker dollar and declining U.S. Treasury yields.

Gold prices have rebounded to $4,043 per ounce after falling below $4,000 per ounce in October, an increase of nearly 3%. Silver prices have risen about 4%, reaching $52 per ounce.