Summary Box: Gold rises on low interest rate plan

AP News
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Posted: Jan 25, 2012 3:20 PM
Summary Box: Gold rises on low interest rate plan

GOLD GAINS: Gold rose after the Federal Reserve said it will keep interest rates near zero until 2014 at the earliest to help the sluggish economy. The price rose 2.1 percent to finish at $1,700.10 an ounce.

FED SPEAKS: The central bank said the economy is growing at a moderate pace but there has been slowing in global growth. It held off on additional bond-buying programs.

WHAT IT MEANS: The Fed's plan will make loans more affordable for businesses and consumers in hopes that they will spend more to aid the economy. That could increase demand for commodities.