Summary Box: Gold, silver rise on debt concerns

AP News
|
Posted: Apr 20, 2011 4:07 PM
Summary Box: Gold, silver rise on debt concerns

MOVING UP: Gold and silver prices rose as investors continued to worry about inflation and how the United States and Europe will deal with their financial issues. Gold settled at $1,498.90 an ounce while silver settled at $44.461 an ounce.

PUMPED UP: Oil prices rose nearly 3 percent after the government reported an unexpected drop in U.S. crude supplies. Benchmark crude rose $3.17 to settle at $111.45 per barrel.

DOLLAR'S IMPACT: Most commodities benefited from a weaker dollar. Since commodities are priced in dollars, a weaker dollar makes them more of a bargain for buyers who use other currencies.