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Commodities round off strong year

Gold and copper rose on the final day of what proved to be a stellar 12 months for both commodities.

The yellow metal booked its strongest annual gain in 3 years in 2010, climbing from around $1,100 per ounce to $1,411.86 yesterday. Miners and analysts are eyeing further gains in 2011.

Copper prices on the London Metal Exchange were up 31 per cent over the year, ending 2010 at a record high of around $9,640.

Oil prices were less successful during the final session of 2010. But crude oil is still up more than 12 per cent over the course of the last12 months.

Prices averaged just under $80 per barrel during the year, leaving them second only to the record average of nearly $100 per barrel seen two years ago.