The Australian share market, including the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and All Ordinaries (INDEXASX: XAO)(ASX: XAO) closed firmly higher on Wednesday.

Biggest Movers

  • Fortescue Metals Group Limited (ASX: FMG) – up 3%
  • Rio Tinto Limited (ASX: RIO) – up 2.2%
  • South32 Ltd (ASX: S32) – up 2%
  • BHP Billiton Ltd (ASX: BHP) – up 1.7%
  • Pushpay Holdings Ltd (ASX: PPH) – up 4.7% (Why? Read more here)

Biggest Losers

  • Netwealth Group Ltd (ASX: NWL) – down 4.2%
  • Yancoal Australia Ltd (ASX: YAL) – down 3.8%
  • Crown Resorts Ltd (ASX: CWN) – down 1%
  • Bega Cheese Ltd (ASX: BGA) – down 2.1%
  • Yowie Group Ltd (ASX: YOW) – down 33% (Why? Read more here)

An overnight rally in commodity prices appears to have pushed shares in the ASX’s largest mining and resources businesses higher today.

Gold prices rose for the eighth day in a row overnight, providing a boost to the shiny metal. It now trades at $US 1,319 per ounce, according to Commsec.

The recent rise in gold coincides with a fall in the popular online cryptocurrency, Bitcoin. Bitcoin has fallen steeply in recent weeks after trading at more than $US20,000 in December.  

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