Business news in brief

By The Associated Press

Price of gold

at record high

NEW YORK | The price of gold hit an all time high this week. The spot price for gold closed Tuesday above $2,514 per Troy ounce. That would make a gold bar or brick weighing 400 Troy ounces worth more than $1 million.

Interest in buying gold often comes at times of uncertainty — with potential concerns around inflation and the strength of the U.S. dollar, for example, causing some to look for alternative places to park their money.

Factors behind the current rally include looming interest rate cuts, ongoing geopolitical risks and rising demand from central banks. But future gains are never promised — and precious metals can be volatile.

Delta, American Airlines extend suspension of flights to Israel

FORT WORTH, Texas | Delta Air Lines is extending its suspension of flights between the U.S. and Israel by another month, through Oct. 31. That’s in response to the ongoing war in Gaza.

Delta’s announcement Wednesday follows news from American Airlines that it plans to suspend flights to Israel through late March of next year. American updated a travel advisory on its website over the weekend. United Airlines has stopped flying to Israel indefinitely.

All three airlines broke off the flights shortly after the war between Israel and Hamas began last October, when the militant group attacked Israelis.

Ford to shift electric vehicle strategy

DETROIT | Ford Motor Co. is changing its electric vehicle plans and now will focus on making two new electric pickup trucks and a new commercial van. The company says all will cost less, have longer range and be profitable within a year of reaching showrooms.

Ford, which is losing millions on its current EVs, gave few details about the new products. But it said production of its next generation full-size electric pickup truck will be delayed 18 months, until 2027. The company also says it won’t build fully electric three-row SUVs, but instead will focus on making those vehicles as gas-electric hybrids. The other new pickup will be mid-sized, based on new underpinnings developed by a small team in California.

—From AP reports