Gold, silver rise as stocks and crude oil fall

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Associated Press

Posted on December 21, 2012 at 5:00 PM

Prices for gold, silver and key agricultural commodities are up, even as stocks and crude oil prices fall.

Silver for March delivery rose nearly 2 percent, gaining 52.5 cents to settle at $30.203 an ounce Friday.

Gold also rose after investors' hopes for a pre-Christmas deal on the U.S. budget talks all but disappeared. House Republicans canceled a vote on a tax bill aimed at avoiding the "fiscal cliff."

Prices for wheat, corn and soybeans rose.

In energy trading, benchmark crude oil fell $1.47 to $88.66 a barrel, the lowest in three weeks. Brent crude, which is used to price international varieties of oil, also fell, a sign that investors are worried the economy could slow.

Prices for other metals ended mixed. Copper and palladium rose, while platinum fell.

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