Gold Advances to Two-Week High as Equities, Commodities Rally
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Gold futures rose to a two-week high as equities and commodities rallied amid optimism that European officials will tame the region’s debt crisis.
The MSCI All-Country World Index rose 2 percent, while the Standard & Poor’s GSCI index of 24 raw materials headed for the longest rally in six months. European Economic and Monetary Affairs Commissioner Olli Rehn said that countries are moving toward a consensus on resolving the “calamity.” Slovakia, the only nation that hasn’t ratified a revised bailout fund, was poised for a second vote after rejecting the package yesterday.