Stocks rally to record highs; gold gains
* MSCI world index; S&P 500, Nasdaq surge to new highs
* Gold gains as hedge against shifting markets in 2020
* Oil rises on trade hopes, OPEC’s supply curbs
By Herbert Lash
NEW YORK, Dec 26 (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.
Overnight in Asia, equity markets rose, with China shares closing higher after Beijing laid out further plans to bolster its economy, including some $385 billion in planned infrastructure investments.