Gold Hits Record, 2-Year Yield at All-Time Low on Fed Statement

Gold rose to a record, Treasury two-year yields slid to an all-time low while the dollar weakened as the Federal Reserve said it’s willing to ease monetary policy further if needed to boost the economy. Most U.S. stocks fell.

Gold futures surged as much as 0.9 percent to $1,292.40 an ounce as of 4 p.m. in New York as the dollar depreciated against 15 of 16 major counterparts. The 10-year Treasury yield lost 13 basis points to 2.58 percent and the 2-year yield slid to a record low of 0.4155 percent. The Standard & Poor’s 500 Index slipped 0.3 percent to 1,139.78, retreating from a four-month high. Oil lost 1.8 percent to $73.52 a barrel.