Gold and Silver Decline on Strong US Jobs Data and Rising Yields on Election Day

Spot gold traded near 3,924.10 dollars an ounce, down 0.55 percent, while silver fell 2.13 percent to 49.450 dollars. Stronger job openings at 7.523 million and factory orders rising 1.8 percent lifted Treasury yields, reinforcing expectations for additional Fed tightening.

Investors weighed midterm election uncertainties, with projections pointing to a divided Congress that could limit fiscal spending. Gold has averaged a 14 percent gain in the year following the last 13 midterms, according to Kitco Research.

Focus turns to upcoming releases including ADP employment and October jobs data that may sway metals prices. Developments in US-Iran talks added further market volatility.