S&P/TSX composite down; inflation helps gold

A street sign along Bay Street in Toronto’s financial district during the COVID-19 pandemic in Toronto on Tuesday, January 12, 2021. THE CANADIAN PRESS/Nathan Denette

TORONTO – A broad-based decline pushed Canada’s main stock index lower midweek while high inflation in the country last month helped materials as gold prices climbed to a five-month high.

The S&P/TSX composite index closed down 64.14 points to 21,653.02.

In New York, the Dow Jones industrial average was down 211.17 points at 35,931.05. The S&P 500 index was down 12.23 points at 4,688.67, while the Nasdaq composite was down 52.29 points at 15,921.57.

The Canadian dollar traded for 79.40 cents US compared with 79.68 cents US on Tuesday.

The January crude oil contract was down US$2.19 at US$77.55 per barrel and the December natural gas contract was down 36.1 cents at US$4.82 per mmBTU.

The December gold contract was up US$16.10 at US$1,870.20 an ounce and the December copper contract was down 8.6 cents at nearly US$4.27 a pound.

This report by The Canadian Press was first published Nov. 17, 2021.

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

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