Stocks rally to record highs; gold gains

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By Herbert Lash

stocks bullish


NEW YORK (Reuters) - Gold prices rose and a gauge of global equity markets hit a record high on Thursday in light holiday trade as a year-end rally in stocks remained on course, with optimism over U.S.-China trade helping drive Wall Street to records.

Oil rose to three-month highs, buoyed by a report showing lower U.S. crude inventories, hopes the pending Sino-U.S. trade deal will soon be signed and efforts by the Organization of the Petroleum Exporting Countries to curb crude supply.

Boxing Day holidays closed markets in Commonwealth countries around the world while a second Christmas Day shuttered markets in a swath of European countries.

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