Gold holds steady, other metals lower

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Associated Press

Posted on February 21, 2013 at 3:02 PM

Updated Thursday, Feb 21 at 3:02 PM

Gold prices are holding steady, a day after they plunged because investors worried about a pullback in the Federal Reserve's bond-buying program.

Gold for April delivery is virtually flat, rising 60 cents to $1,578.60 per ounce. It fell more than 2 percent Wednesday after the Fed hinted that some of its members are doubtful about continuing the central bank's bond purchases. If the Fed were to end its bond-buying program, inflation would be of less concern to many investors. It would also make gold less attractive as an investment.

Prices for some key metals, including copper and platinum, were down. Oil prices fell after the government reported higher-than-expected supplies. Prices for wheat and corn were also lower.

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