Market Commentary and Intraday News

News Summary: Price of gold hits 2012 high

270 days ago

By The Associated Press

GOLDEN HIGH: The price of gold reached a high for the year Friday amid speculation that Spain may request financial help from European countries. Investors buy gold as a hedge against inflation and volatility in currencies.

WAITING ON SPAIN: Spain's borrowing costs have dropped sharply since the European Central Bank said it will buy government bonds to help financially troubled countries. Analysts speculated that Spain is developing a new economic reform program that will include a request for money from Europe's bailout fund.

WINNERS, LOSERS: Prices rose for oil, copper, wheat, corn and soybeans. Silver fell.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

View all of today's news »