The Toronto Stock Exchange saw its TSX Composite index rise 13.56 points on Wednesday, closing at 7,580.36 in fairly heavy trading. The winning market sectors were information technology and real estate, with the golds up only fractionally and the diversified miners losing ground.
Gold prices had a volatile day, falling from a fix price of US$372.20 per oz. in the London morning session to an afternoon fix of US$370.00, then rallying in New York trading to finish at US$374. The TSX Gold index mirrored bullion’s experience, falling in morning trading, then rallying just before noon to finish at 199.02, a gain of 0.18 point.
The golds didn’t move up as a body, though; moderate rises through most of the group were balanced by big losses in a few stocks. Gabriel Resources had the worst day, falling 12, or 3% of value, to $3.55. Agnico Eagle Mines was down 52 at $19.14, and Eldorado Gold fell back 8 to $3.51.
The big gainer on the day, and most actively traded of the index components, was silver producer Wheaton River Minerals, which added 5, or 2%, to close at $2.30. About 10.6 million shares changed hands.
Three off-index golds all rose in active trading. Cambior was up 7 at $3.30 on a volume of 3.2 million shares, while Rio Narcea Gold was up 15 at $2.80 and Thistle Mining rose 1 to 67.
The TSX Metals and Mining index finished 1.03 points lower at 153.23, with most of its component stocks falling. Inco was down 60 at $34.45, while Falconbridge shed 21 to close at $20.70, despite a slight rise in the nickel price. Smaller nickel producer LionOre Mining International was down 15 at $6.43 but Sherritt International, alone among the nickel stocks, rose, tacking on 3 to finish at $5.03.
The big winner on the day was Aur Resources, which was up 20 at $4.85, a gain of over 4%.
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