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Oil to drop to 5-year lows, gold rose

Oil fell for a third day to the lowest levels of 5 and a half years, which strengthened the views that the “black gold” will continue with the bearish market and in 2015. Futures fell 1.3 percent in aziyatskata session after last week declined 5.1% Iraq plans to increase exports this month, and the President of Venezuela will be on a visit to China to meet with some members of OPEC to discuss future policy of the organization.

Brent for February fell 71 cents to $ 55.71 a barrel, and for 2014 the decrease was noted that more than 48% for the February oil supplies fell by 1% or 54 cents to $ 52.15

Gold rose above 5-week low against the policy of the European Central Bank on quantitative easing. Bullion for immediate delivery traded at a price of 1 $ 190.94 an ounce. For the February delivery gold dropped to 1 $ 187.30 an ounce.

Silver for immediate delivery rose 1.9 percent to $ 16.04 an ounce. The metal lost 19% of its value in the past year, and for 2013 the decrease, which scored 36% Spot platinum added 0.5% to its value to 1 $ 207.88 an ounce, while palladium rose 0.5% to $ 799.25 an ounce .

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