* Investors mull impact of U.S. election on fiscal cliff
* Indian gold importers await price direction
By David Brough
LONDON, Nov 6 (Reuters) – Gold steadied near a nine-week low
on Tuesday as investors assessed potential policy impact from
the neck-and-neck U.S. presidential election.
Spot gold rose 0.48 percent to $1,692.05 by 1349 GMT,
but stayed close to Monday’s nine-week low of $1,672.24. U.S.
gold futures for December rose $9.00 to $1,692.20.
Prices slid more than 2 percent on Friday after
stronger-than-expected U.S. jobs data lifted the dollar.
Investors were also alert to the start of a 48-hour strike
on Tuesday by tens of thousands of Greek workers to protest a
new round of austerity cuts.
President Barack Obama and Republican challenger Mitt Romney
face the verdict of U.S. voters on Tuesday after a long and
bitter White House campaign, with polls showing them deadlocked
in a race that will be decided in a handful of states where it
is extraordinarily close.
Some analysts say a win by Obama could boost bullion,
keeping Ben Bernanke at the helm of the Federal Reserve and
maintaining ultra-easy monetary policy, while a win by Romney
would be a positive for stocks on business-friendly policies and
tax cuts.
Continued…
