Business News

Gold adds $36 on Bernanke's remarks

Published: Aug. 31, 2012 at 5:29 PM

NEW YORK, Aug. 31 (UPI) -- Gold added $36.80 an ounce Friday on the Comex division of the New York Mercantile Exchange ending a four-day slide.

The move came as U.S. Federal Reserve Chairman Ben Bernanke indicated the Fed is getting ready to make a move to boost the economy, likely a third round of quantitative easing.

Gold closed at $1,693.90 a troy ounce while silver added $1.003 to $31.37.

The dollar index fell 0.58 percent to 81.25.

The Canadian dollar rose to 98.62 cents and the British pound rose to $1.5865 while the euro rose to $1.2578 and the dollar fell to 78.4 yen.

Topics: Ben Bernanke

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