(AP)-Gold and other commodity prices are surging on building speculation that the Federal Reserve may try to pump more life into the struggling economy.
Gold rose 2 percent Friday to finish at $1,740.50 per ounce.
Traders are anticipating additional Fed action to promote economic growth after the government issued a weak jobs report for August on Friday. The central bank is expected to consider a number of options at its meeting next week, including a bond-buying program.
That's attracting traders to commodities which benefited from previous Fed bond purchases. Those programs pressured the dollar. Commodities are priced in dollars so a weaker dollar makes them a bargain for traders who use other currencies.
In other trading, prices are higher for copper, oil and wheat. Natural gas and soybeans are lower.
Keep reading for free
You can unsubscribe from the newsletter at any time.
No Comment