Analyst: Gold may gain new upward momentum if the U.S. Congress falls into

Gold could find fresh upside momentum if the U.S. Congress falls into gridlock, according to Matt Miskin, co-chief investment strategist at Manulife John Hancock Investments, who noted the metal is on track for its worst annual performance in over a decade. Miskin drew a parallel to 2019, when gold staged a rally, saying that if 2027 resembles that year, current weakness could reverse. He explained that congressional gridlock would reduce the risk of further fiscal stimulus pushing real yields higher, a key headwind for the metal. Miskin expects Democrats to make modest midterm gains with limited policy changes, which he called "a very positive development for gold." Investors are watching whether shifting U.S. political dynamics can restore gold's safe-haven appeal after its prolonged slump.