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This article first appeared on GuruFocus. Gold prices surged Wednesday as the U.S. dollar weakened following the midterm elections, giving bullion its strongest daily move in months. Spot gold rose 3% to $4,046.74 per ounce by midday GMT and briefly touched $4,050.99, its highest level since October 29. U.S. December gold futures climbed 2.9% to $4,054.60. Warning! GuruFocus has detected 2 Warning Sign with NVO. Is GLD fairly valued? Test your thesis with our free DCF calculator. The move came as the dollar fell to a one-month low after Democrats won control of both chambers of Congress. Capital Economics economist Hamad Hussain said the election results appeared to increase investor concern about the U.S.
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