TSX closes lower as gold price fall off highs and hopes of U.S. rate cut take hit

TSX closes lower as gold price fall off highs and hopes of U.S. rate cut take hit
Share this article

TORONTO — Canada’s main stock index closed lower as gold prices fell from six-year highs and a strong U.S. jobs report undercut hopes of an interest rate cut this month.

The S&P/TSX composite index was down 46.86 points at 16,541.99.

In New York, the Dow Jones industrial average was down 43.88 at 26,922.12. The S&P 500 index was down 5.41 points at 2,990.41, while the Nasdaq composite was down 8.44 points at 8,161.79.

The Canadian dollar traded for an average of 76.34 cents US compared with an average of 76.58 cents US on Thursday.

The August crude contract was up 17 cents at US$57.51 per barrel and the August natural gas contract was up 12.8 cents at US$2.42 per mmBTU.

The August gold contract was down US$20.80 at US$1,400.10 an ounce and the September copper contract was down 2.2 cents at US$2.66 a pound.

 

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

 

The Canadian Press

Related posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.