Stocks Triumph for a Third Month While Bullion Tumbles

Global stocks beat all assets for a third month in November, the longest winning streak since 2009, on signs that economic growth is accelerating. Commodities extended declines as gold fell the most since June.

The MSCI All-Country World Index of equities in 45 markets rose 1.5 percent including dividends and the Standard & Poor’s 500 Index reached a record as China pledged to expand economic freedoms, the European Central Bank cut interest rates and speculation increased the Federal Reserve will delay reducing stimulus. The U.S. Dollar Index advanced 0.6 percent and the S&P GSCI Total Return Index of 24 commodities fell 0.8 percent. Bonds of all types lost 0.16 percent on average, according to Bank of America Merrill Lynch’s Global Broad Market Index.