News Summary: Inflation fears drive rise in gold

AP News
Posted: Sep 13, 2012 4:22 PM

ALL THAT GLITTERS: The price of gold jumped more than 2 percent, and silver more than 4 percent, after Federal Reserve Chairman Ben Bernanke promised to take more action to try to boost the U.S. economy.

WHAT BEN IS THINKING: When the Fed steps in to try to spur the economy, its actions carry the risk of inflation. Many investors view gold as a way to protect themselves from rising prices.

WATCHING SOUTH AFRICA: The price of platinum climbed nearly 2 percent. Violent strikes at mines in South Africa have sent platinum prices higher for the past month.