* Obama seen continuing with economic stimulus
* Attention shifts to resolving U.S. “fiscal cliff”
* Indian gold imports slow
By David Brough
LONDON, Nov 7 (Reuters) – Gold’s rally to two week highs
after U.S. President Barack Obama’s re-election fizzled out on
Wednesday, with the dollar seen as a safe-haven as investor
focus shifted quickly to U.S. fiscal woes.
Rallying with world shares, gold jumped to around
$1,731 an ounce, its strongest since Oct 23, but later lost
traction as the dollar built momentum to last stand at $1,713.14
at 1530 GMT, down 0.1 percent on the day. U.S. gold for December
was down 60 cents at $1,714.40.
The market is well below a record high around $1,920 struck
in September last year.
Obama won a second term in the White House, overcoming deep
doubts among voters about his handling of the U.S. economy to
score a clear victory over Republican challenger Mitt Romney.
Gold had rallied to an 11-month high above $1,795 an ounce
on Oct. 5 after the U.S. Federal Reserve announced a third round
of aggressive economic stimulus in September.
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