Singapore, November 04 (QNA) - Gold prices rose over 2% on Wednesday, bolstered by a weaker US dollar after Democrats ‌seized significant victories in the US midterm elections.

Spot gold climbed 2.2% ​to $4,016.01 per ounce.

US gold futures for December delivery rose 2.2% to $4,026.90.

Global stocks slumped, and the dollar hit a one-month low on Wednesday as Democrats scored a decisive win in the US midterm elections.

Meanwhile, markets await non-farm payrolls data, due on Friday, for clues to the Federal Reserve's policy path.

Among ​other metals, spot silver gained ‌3.8% to $51.67, platinum rose 2.8% to $1,445.71, and palladium climbed 3.8% to $969.49. (QNA)