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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.
Markets, gold, copper end 2017 higher Markets, gold, copper end 2017 higher Markets, gold, copper end 2017 higher Markets, gold, copper end 2017 higher Markets, gold, copper end 2017 higher

Positive finish around the globe

Staff reporter

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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