Gold futures jump 3% as Treasury yields slide and dollar retreats.

Gold futures jumped 3% to $4,059, rebounding from a month-long slump as Treasury yields dropped and the U.S. dollar posted its sharpest decline in two months following congressional election results. In interest rate markets, the CME FedWatch Tool indicates an 84.9% probability of a 25 bps rate hike at the December 9 meeting, up from 67.3% a month prior. Central banks continue gold purchases at the fastest pace since 2024 according to the World Gold Council. Silver futures advanced 4.9% to top $52 an ounce, while Copper futures held flat following an intraday recovery amid regulatory scrutiny in tech and shifting refined metal import flows. Phillip Streible of Blue Line Futures provides daily market analysis.