Gold, Silver Rise for Third Straight Day

Gold and silver prices rose for a third straight day, following the Federal Reserve’s decision to keep interest rates low for the immediate future.

Gold rose $2.50, or 0.02 percent, to $1,316.60 an ounce; while silver rose 30 cents, or 1.5 percent, to $20.95 an ounce.

The Fed said Wednesday that it plans to keep interest rates low until at least next year to help the U.S. economy recover. The announcement helped keep the dollar lower, giving investors an incentive to buy precious metals.

Copper also rose Friday, gaining 4 cents, or 1.4 percent, to $3.12 a pound. Platinum for July delivery fell $17.20, or 1.2 percent, to $1,457.30 an ounce; and palladium fell $16.40, or 2 percent, to $822.20 an ounce.

In crops contracts, wheat fell 8 cents, or 1.4 percent, to $5.85 per bushel; and corn rose 3 cents, or 0.6 percent, to $4.53 a bushel. Soybeans rose 4 cents, or 0.3 percent, to $12.32 a bushel.

This article appeared in print in the June 23rd, 2014 edition of Hamodia.