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Oil continues to fall, gold rising

Oil continues to fall to almost 6 year lows after Venezuela and Iran issued statements to the members of OPEC and called everyone in the organization to help solve the problem of “black gold” futures fell more than 1.5% in early session. Brent for February fell 75 cents to $ 49.36 a barrel on Friday after the close price of $ 50.11 a barrel. Oil for February dropped more than 81 cents to $ 47.55 a barrel, and on Friday closed at $ 48.36 a barrel.

Gold rose to the highest levels in a month after Release last week for unemployment in the US. Bullion for immediate delivery added more than 0.3% to 1 226.95 US dollars per ounce, which was the highest level since December 12. On Friday, the precious metal rose by 1.2% for the February delivery gold rose by 0.9% to 1 226.90 US dollars an ounce, and in the past week rose by 2.5%

Silver also rose by 0.8% to $ 16.62 an ounce. Spot platinum marked a slight increase to $ 1,233.75 an ounce from $ 1,233.31 on Friday. Palladium traded 0.1% increase to $ 802.30 an ounce.

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