Gold fell on Friday, easing off a two-week peak of $1,947 an ounce hit in the previous session as results known so far point to a divided Congress, making the passage of a large stimulus package less likely. Putting a floor under prices was a dovish tonne of the Fed’s statement on Thursday, with policymakers keeping monetary policy steady and again reiterated their commitment to using its full range of tools to support the US economy. Fundamentals for gold have not changed, with expectations for a prolonged period of ultra-low interest rates leaving room for further upside momentum.
