News Summary: A word from Bernanke pushes up gold

AP News
Posted: Aug 31, 2012 3:32 PM

THE GOLD RUSH: Investors piled into gold, silver and other precious metals after Federal Reserve Chairman Ben Bernanke signaled the central bank would take more action to try to prop up the economy if conditions don't improve.

INFLATION FEARS?: Any action the Fed might take could cause inflation. Many investors view gold and other precious metals as a way to protect themselves against rising prices.

THE AFTERMATH OF ISAAC: Prices for wheat, corn and soybeans rose earlier in the week, on fears that Hurricane Isaac could flood crops and slow down harvesting. By Friday, investors had already worked those worries into their trading. Prices for all three commodities fell.