Economics
Gold Surges as Global Stocks Gain, Dollar Weakens on Fed
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Gold rose the most since September as the dollar weakened, while global stocks advanced to a record after the Federal Reserve said rates will remain low as the economy grows. Emerging-market currencies climbed.
Gold futures rallied 3.3 percent and the Bloomberg Dollar Spot Index dropped to its lowest level in almost a month. The Standard & Poor’s 500 Index gained 0.1 percent to extend an all-time high at 4 p.m. in New York, and the MSCI All-Country World Index climbed 0.5 percent. Ten-year Treasury yields added four basis points to 2.63 percent after plunging yesterday. Brent crude rose to a nine-month high.