Gold Extends Longest Rally Since August as S&P 500 Closes Higher

Gold and silver extended their longest rallies since August while U.S. stocks closed higher following the biggest two-day gain since October. The yen strengthened and Chinese shares advanced.

Gold for April delivery climbed for a fourth straight day, adding 0.9 percent to $1,274.70 an ounce while silver for March delivery increased 0.9 percent for a sixth consecutive advance. The Standard & Poor’s 500 Index drifted between gains and losses for most of the day before closing 0.2 percent higher at 1,799.84. The Stoxx Europe 600 Index was little changed. The Shanghai Composite Index climbed to a one-month high. The yen gained versus 13 of 16 major peers. Brazil’s real and Hungary’s forint led emerging-market currencies lower against the dollar.