Gold, silver and precious metals prices jump, dollar dips as Democrats take control of Congress

Precious metals saw strong gains on Tuesday morning, while the value of the dollar fell, following the U.S. midterm elections. Spot gold was 2% higher at $4,005.40 an ounce by 1:30 a.m. ET, while spot silver jumped 4% to trade at $51.68 per ounce. Front-month gold futures added 2.2% to trade at $4,020.60, while silver futures were up 3.8% at $51.53. Other metals seeing notable gains on Wednesday morning included platinum , which jumped 3.3% to trade at $1,462.20, and palladium, which was 3.8% higher at $969.33. The moves came as vote counting continued in the midterms, with the Democrats projected to have won control of the House and multiple governors' offices also turning blue. U.S.