ECB plan boosts commodities prices - 13 WTHR Indianapolis

ECB plan boosts commodities prices

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The new bond-buying plan to help ease Europe's debt crisis gave a boost to commodity prices, as well as equities.

The European Central Bank vows to buy unlimited amounts of government bonds from countries struggling with massive debt. That should make it cheaper for them to borrow money.

Gold topped $1,700 an ounce for the first time in six months after the news was announced. Prices for oil, silver, wheat and corn also rose.

Benchmark oil gained 17 cents to end at $95.53 a barrel.

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 This material may not be published, broadcast, rewritten, or redistributed.)

 

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