London: Gold on Wednesday gained for a third day, its longest winning streak in two months, on expectations the US will keep stimulus measures to boost the economy after President Barack Obama was re-elected.
Gold gained 0.6 percent to USD 1,726.15 an ounce, Its highest winning streak since October 23, while silver added 0.6 percent to USD 32.19 an ounce.
Obama defeated Republican Mitt Romney, becoming only the second Democrat since Franklin Roosevelt to win another term.
The Fed said it will maintain USD 40 billion in monthly purchases of mortgage debt and probably hold interest rates near zero until mid-2015.
The US dollar weakened 0.4 percent against a six-currency basket. Bullion usually moves inversely to the greenback.
Obama will need now to address a so-called fiscal cliff of more than USD 600 billion in tax increases and spending cuts that take effect in January unless Congress can reach a budget compromise.


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