Gold gains as dollar weakens before US Vote

London, Nov 6 (Bloomberg) Gold today rose as the dollar weakened before the US presidential election that may determine the direction of monetary and fiscal policy in the largest economy. Gold advanced 0.3 per cent to USD 1,690.78 an ounce and silver by 0.6 per cent to USD 31.36 an ounce. US voters decide today between giving President Barack Obama another four years in office or changing course with Republican challenger Mitt Romney. 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 against a six-currency basket. Bullion rallied 8.1 per cent this year as central banks including the Federal Reserve took steps to shield their economies hurt by Europe's crisis.(Bloomberg)