Gold Climbs Most in Seven Weeks as Commodities, Equities Rally
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Gold futures gained the most in seven weeks as commodities and equities rallied amid optimism that European leaders will take steps to resolve the region’s debt crisis.
The Standard & Poor’s GSCI index of 24 raw materials surged as much as 3.6 percent, while the MSCI All-Country World Index jumped as much as 4 percent. In the previous three sessions, gold tumbled 12 percent, the most since 1983, on sales by investors to cover losses in other markets amid mounting concern that the global economy would slump.