Gold and copper advanced after Barack Obama won a second term as U.S. president, entrenching prospects for continued stimulus in the world’s biggest economy and weakening the dollar.
The Standard & Poor’s GSCI Index of raw materials climbed as much as 0.5 percent to 647.66. Gold advanced to $1,731.82 an ounce in London, the highest in more than two weeks, while copper rose as much as 1.4 percent to $7,806.25 a metric ton.
Obama defeated Republican Mitt Romney, securing at least 303 electoral votes, with 270 needed for victory. The S&P GSCI Index is little changed this year as investors weigh stimulus from the world’s central banks including the Federal Reserve against a global slowdown and impact of Europe’s debt crisis.