NEW YORK (AP) — Gold and silver are closing higher after the Federal Reserve said it would take aggressive steps to spur growth in the economy.
Both metals, after trading flat or slightly down throughout the morning, shot up after the Fed released its plan at 12:30 p.m. EDT. Gold is up more than 2 percent. Silver is up more than 4 percent.
Investors often put their money into gold when the Fed gets more involved in the economy. Fed actions carry the risk of causing inflation. Some investors view gold as a way to protect themselves from rising prices.
Other metals, like copper, palladium and platinum, also are higher. So are prices for oil, wheat and corn.
