Summary Box: Gold rises on inflation worries

AP News
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Posted: Apr 29, 2011 4:05 PM
Summary Box: Gold rises on inflation worries

METALS RISE: Gold and silver prices ended the week higher after Wednesday's Fed announcement it would keep interest rates near zero. That fueled fears of inflation, leading investors to bid up precious metals.

LOW RATES: To nurture the economic recovery, the Fed said it will hold its key interest rate at a record low for an "extended period."

OIL UP TOO: Low rates have kept the dollar weak against other currencies. That has contributed to higher oil prices. Benchmark crude for May delivery rose $1.07 to settle at $113.93 per barrel.