Market News Summary Box: Commodities surge on stimulus hope |
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SURGING COMMODITIES: Commodity prices rose after Fed Chairman Ben Bernanke said the central bank could approve more stimulus measures if weak growth DOLLAR'S IMPACT: Bernanke's comments caused the dollar to weaken. That benefited commodities, which are priced in dollars. A weaker dollar makes them cheaper to buy for investors who use other currencies like the euro or the Japanese yen. GOLD PRICES: Gold for August delivery rose $23.20 to settle at $1,585.50 an ounce. That was a record in dollar terms but below its peak in the early 1980s after accounting for inflation. Authors: Commodities - Yahoo! News Search Results |
