Gold steadied near a nine-week low on Tuesday as investors assessed potential policy impact from the neck-and-neck U.S. presidential election.
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.
Cash printing by central banks boosts gold's appeal as it keeps interest rates at a low level, reducing the opportunity cost of holding the metal that has no yield outside its actual value.
Gold had jumped to nearly $1,800 an ounce last month on central bank stimulus measures, but has since eased.
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