WASHINGTON (dpa-AFX) - Gold edged higher on Thursday to hit a two-week high and the dollar retreated on renewed hopes for a new U.S. stimulus package.
Spot gold rose 0.4 percent to $1,911.32 per ounce, while U.S. gold futures were up 0.9 percent at $1,912.30.
Vote counting continues in the tense U.S. presidential race, though Joe Biden appears positioned to win enough battleground states to put himself in the White House after claiming key Midwestern states of Wisconsin and Michigan.
Markets expect Biden to pass a quick economic stimulus package, but it may not be as large as it would have been if Democrats took control of the White House and both chambers of Congress.
Biden's plans on climate change, economic stimulus and the easing of sanctions on oil producer Iran could be thwarted by a Senate controlled by Republicans, even by a thin margin.
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