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Gold Set for Longest Winning Run in 2 Months on Obama Win - report

Gold declined for the first time in three days as a stronger dollar crimped demand for the precious metal as an alternative investment, Bloomberg reported.

It said the dollar gained as much as 0.4% against a basket of six currencies on concern that President Barack Obama will struggle to convince Congress to avert the so-called fiscal cliff after his re-election. European Central Bank President Mario Draghi said the region's crisis is affecting Germany. The Standard & Poor's GSCI Spot Index of 24 commodities slumped as much as 2.6%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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