Gold ticked up on Wednesday, aided by a weaker dollar, while investors awaited the results of the U.S. Senate runoff elections in Georgia that will decide the prospects of further stimulus. 

Polls closed in Georgia after voters cast ballots in a pair of runoff elections that will determine both control of the U.S. Senate and Democratic President-elect Joe Biden's ability to push through an ambitious legislative agenda. 

Democrat candidates jumped to early leads in preliminary voting returns, data compiled by Edison Research showed. The results could be known by Wednesday, although the outcome may remain in doubt for days if the margins are razor-thin.

The U.S. dollar  held near an over two-year low against rivals.

U.S. factory activity accelerated to its highest level in nearly 2-1/2 years in December

Holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust  fell 0.1% to 1,186.78 tonnes on Tuesday.