The Canadian Press - ONLINE EDITION
Posted: 12/30/2013 7:26 AM | Comments: 0
Last Modified: 12/30/2013 3:30 PM
TORONTO - The Toronto stock market closed slightly lower as gold stocks continued to add to the huge losses already racked up this year.
The S&P/TSX composite index shed 6.59 points to 13,581.39 amid thinner than usual volumes as 2013 trading winds down.
The Canadian dollar closed up 0.56 of a cent at 93.98 cents US.
New York markets turned in a mixed performance with the Dow Jones industrials up 25.88 points at 16,504.29, while the Nasdaq lost 2.39 points to 4,154.2 and the S&P 500 index dipped 0.33 of a point to 1,841.07.
The TSX gold sector fell around three per cent as February bullion lost $10 to just over $1,200 an ounce, adding further damage to a sector already down about 50 per cent for the year.
Gold prices have taken a big hit this year, down almost 30 per cent as the global economy has gradually improved and the U.S. Federal Reserve made moves to cut back on a key area of stimulus, its monthly bond purchases.
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