Canada Stocks Close Higher; Sectors Mixed; Strong Gold Prices Drive Gains

By Staff,

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Canada stocks moved higher on Wednesday with gold stocks leading the way based on higher bullion prices. Sectors were mixed with Telecom capping gains.

Gold prices moved higher on Wednesday notching up a US$20 per ounce gain on the COMEX futures exchange. Prices pushed through former resistance near $1360 and are poised to test the August 2013 highs near $1,436.

Economic news reported earlier on Wednesday showed that the index which measures price changes for repeat sales of single-family homes, rose 0.3% last month from January. Prices were up 5.0% from a year ago, an acceleration from January's 4.5% price gain.

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This article appears in: Investing Commodities
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