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Oil rises on Mideast; gold and metals down

Posted on 06 January 2009

From Reuters: Oil and gold surged 3 percent and 1 percent respectively on Monday, before giving up early gains, as investors snapped up safe haven assets following Israel’s offensive against Hamas militants in the Gaza Strip.

Crude found support from an Iranian military commander’s call for an oil boycott over Israel’s offensive, a Russian gas supply row and evidence of OPEC’s compliance with output cuts, while gold traders watched the dollar, which held near a three-week high against the yen….. Full Article: Source


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