Canada Stocks Close Higher; Gold Prices Drag on Metals and Mining; Potash Corp Most Active Winner

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Canadian stocks climbed higher on Friday, led by Energy, Telecom and Utilities. Most sectors were higher with Metals and Mining bucking the trend.

Gold prices continued to slide on Friday suffering a loss of nearly 5% for the week. Syrian tensions continue to fade, hurting investors' confidence on the bullion as a safe-haven asset. December Comex gold prices were down 1.7% to $1,308.60, creating a drag on the Metals and Mining sectory.

Canadians continue to rack up debt according to a report released on Friday by the Canadian government. The ratio of household debt to income in Canada hit a record high in the second quarter, according to Statistics Canada.

Potash Corporation of Saskatchewan Inc. was the most active stock on the TSX, with no fresh news driving volume. Yesterday, the company declared a quarterly dividend of US$0.35 per share payable November 5, 2013 to shareholders of record October 15, 2013. The stock closed up 2.3% with 5.3 million shares changing hands.



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This article appears in: Investing , Commodities

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