Gold Jumps Most in 7 Weeks as U.S. Fiscal Cliff Awaits

Gold jumped the most in seven weeks, tracking gains in equities and commodities, on speculation that the U.S. will take additional measures to spur economic growth, regardless of the winner in today’s presidential election.

The Standard & Poor’s GSCI Spot Index of 24 commodities advanced the most in a month, led by energy and metals, while the Dow Jones Industrial Average gained. The dollar fell. Whether President Barack Obama or Republican challenger Mitt Romney wins today, the next president will need to address a so-called fiscal cliff of more than $600 billion in tax increases and spending cuts that take effect in January unless Congress can reach a budget compromise.