Gold, silver jump as Fed keeps rates low

AP News
Posted: Jun 19, 2014 4:44 PM

Gold and silver futures are higher a day after the Federal Reserve said it saw no immediate end to its low-interest rate policy.

Gold for August delivery rose $41.40, or 3.3 percent, to $1,314 an ounce Thursday. Silver for July delivery rose 87 cents, or 4.4 percent, to $20.65 an ounce.

On Wednesday, the Fed said it would keep interest rates low for some time to help the U.S. economy recover. That helped keep the dollar lower, giving investors an incentive to buy precious metals. The Fed news came out after the close of regular metals trading on Wednesday afternoon.

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Platinum and palladium futures also rose.

Energy contracts ended mostly higher and prices for gains and beans rose.