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Gold Ends Higher, Locks in Rise of 7% For 2012: Report

Gold futures rose Monday, with investors ending the final trading day of 2012 with some optimism about tax rates as Washington raced to meet a deadline to avert automatic tax increases and spending cuts set to go into effect Jan. 1, MarketWatch reported.

Gold for February delivery rose $19.90, or 1.2%, to settle at $1,675.80 an ounce on the Comex division of the New York Mercantile Exchange. February gold traded as high as $1,681.00.

Gold finished the year with an annual gain of 7%, the twelfth consecutive yearly rise for the precious metal, but the smallest annual gain since 2008.

March silver futures closed up 0.8% at $30.23 an ounce, marking a gain of 8.3% for 2012.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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