Bengaluru — Gold came off a one-week low to trade higher on Wednesday as investors sought cover from market volatility and uncertainty surrounding the fallout of US midterm elections results. Spot gold was up 0.2% at $1,228.52/oz, as of 6.25am GMT, having touched its lowest since November 1 at $1,222.90 earlier in the session. US gold futures was 0.3% higher at $1,229.5/oz. “The spectre of a Democrat-controlled House suggests that we will see a little bit of risk-off in the market, which should probably benefit gold in parts,” said ANZ analyst Daniel Hynes. Democrats rode a wave of dissatisfaction with President Donald Trump to win control of the US House of Representatives. The win creates a clear hurdle for Republicans to easily pass legislation through both chambers of Congress, clouding the outlook for some of Trump’s key economic proposals. Wall Street stock futures and Asian shares held earlier gains on the election news, while the dollar weakened against most of other major c...

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