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News Summary: Metals, oil fall as cliff nears

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The Associated Press | December 28, 2012 04:29 PM EST | AP


MOPEY METALS: Prices for palladium, platinum, silver and other metals fell even though there were signs that the economy is improving. Pending home sales rose, and so did a measure of manufacturing.

THE WITCHING HOUR: That's because investors are unnerved about the "fiscal cliff." Higher taxes and lower government spending will kick in if Republicans and Democrats can't reach a budget compromise by midnight Monday.

LOSING ENERGY: Prices for energy commodities also fell. Benchmark crude, Brent crude, gasoline and heating oil all finished lower.