Gold, silver rise; oil rises on Egypt tension

(AP) Gold, silver rise; oil rises on Egypt tension
By The Associated Press
Gold and most other metals are closing higher. Escalating tensions in Egypt are pushing the price of crude oil and other energy futures higher.

Gold for August delivery rose $8.50, or 0.7 percent, to settle at $1,251.90 an ounce Wednesday. Silver and copper also rose, but platinum and palladium fell.

Crude oil rose to its highest level in more than a year as Egypt’s political turmoil increased and signs emerged of higher demand in the U.S. for fuel.

Benchmark oil rose $1.64 to $101.24 a barrel. It rose to $102.18 a barrel earlier, the highest price since last May.

Wheat and soybeans rose. Corn ended flat.

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