The S&P/ASX 200 closed 15 points higher at 5367 after reaching a high of 5383 in morning trading.

Metals were up across the board, with zinc again one of the best performers, up 1.1% to $US2078 a tonne.

Silver also performed strongly, with the spot price moving 3.6% higher to $20.05 an ounce, while the gold spot price also moved 0.5% higher to $1222.64/oz.

The rebound came as gold coin and bar sales from the Perth Mint, which refines most of Australia’s bullion, expanded 12% to 58,944 ounces in December.

Still in precious metals, the platinum spot price was 1.4% higher to $1386.62/oz.

In other parts of the market low inventories in London helped boost copper for three-month delivery on the London Metal Exchange 0.9% higher to $7427/t.

The iron ore spot price was steady at $134.20/t as Pilbara miners resumed exports following Tropical Cyclone Christine.

The positive numbers helped buoy Aussie stocks, with BHP Billiton up 0.5% to $A38.20 and Rio Tinto up 0.8% to $68.71.

Other movers included precious metals explorer Dragon Mining, which was up as much as 38.5% before settling 23% higher at 16c, as well as Perth-based Gunson Resources, which was up 31.6% to 2.5c.

Gold explorers also made some big moves, with Breaker Resources down 40% to 12c and Perseus Mining up 18.4% to 29c.

Elsewhere, iron ore explorer Sherwin Iron booked some solid gains, up 25% to 12.5c, after securing $7.9 million in funding for ongoing development of its Roper River tenements in the Northern Territory.