Gold, silver rise for third straight day

AP News
Posted: Jun 20, 2014 4:14 PM

Gold and silver prices were rising for a third straight day, following the Federal Reserve's decision to keep interest rates low for the immediate future.

Gold rose $2.50, or 0.02 percent, to $1,316.60 an ounce while silver rose 30 cents, or 1.5 percent, to $29.95 an ounce.

The Fed said Wednesday that it plans to keep interest rates low until at least next year to help the U.S. economy recover. The announcement helped keep the dollar lower, giving investors an incentive to buy precious metals.

Copper also rose Friday, gaining 4 cents, or 1.4 percent, to $3.12 a pound. Platinum and palladium prices fell.

In other commodities, oil rose 83 cents to $107.26 a barrel. Wheat fell, while corn and soybeans rose.