Gold Rises With Oil; Commodity Shares Lead S&P 500 Higher
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Gold climbed for a fifth day, the longest rally of the year, after the metal last week posted the biggest price slump in three decades. Oil rose and energy and raw-material producers led U.S. stocks higher.
Gold for immediate delivery rose 1.6 percent to $1,426.45 an ounce as of 5 p.m. in New York. The Standard & Poor’s 500 Index added 0.5 percent after slumping 2.1 percent last week, its worst drop since November. Ten-year U.S. Treasury yields lost one basis points to 1.69 percent. Italy’s note yields decreased as the country elected a president and the Stoxx Europe 600 Index climbed 0.2 percent. The yen gained for the first time in five days after failing to weaken through 100 per dollar, a level last reached four years ago.