Finance > Capital-markets

Markets, gold, copper end 2017 higher

There was cause for markets and miners to celebrate as 2017 drew to a close with key indices and the gold and copper prices closing higher for the year.

Staff reporter

Finance > Capital-markets

Markets, gold, copper end 2017 higher

There was cause for markets and miners to celebrate as 2017 drew to a close with key indices and the gold and copper prices closing higher for the year.

Staff reporter

Markets, gold, copper end 2017 higher

Positive finish around the globe

Image: Unsplash/Nicolas Tissot

The final day of trade of 2017 marked gold's biggest annual gain since 2010 as the US dollar weakened, with the precious metal price breaching the US$1,300 an ounce mark and gaining 13% for the year.

It was trading above $1,305/oz on the spot market earlier today, more than $30/oz higher than prior to Christmas.

Around the globe, the bull run on the S&P500 saw the index close up more than 18% for the year, the FTSE 100 rose almost 8%, the S&P/TSX and TSX Venture Composite indices finished up around 5% and 10% higher, respectively, and the S&P/ASX 200 rose 5.8% in 2017.

Bellwether metal copper rose just over 30% for the year in terms of spot prices on the London Metal Exchange, according to data compiled by Quandl.

As for whether the market momentum will continue in 2018, the S&P/ASX 200 headed lower today but a mix of miners were the top five gainers in the opening day of Australian trade for 2018, led by lithium developer Pilbara Minerals (AU:PLS) rising around 5%.

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