Late Surge Brings TSX Gains, May Reflect Unquenched Thirst For Stimulus

By Midnight Trader,  August 10, 2012, 04:11:10 PM EDT

Canada's main stock market surged over the last hour to end Friday's session up more than 30 points, perhaps reflecting unquenched investor thirst for central banks to stimulate their respective economies - and with that the global economy - very soon. Poor China July export figures dimmed this optimism from the off and for most of the session - as investors tried to work out if the Chinese economy needed more than stimulus to fix it - but it shone through again late in the day.

Oil fell as China's export growth slowed and the International Energy Agency cut demand forecasts.

Kitco News said gold prices were mixed on the day and up the week. The most-active December gold contract on the Comex division of the New York Mercantile Exchange settled higher Friday, at US$1,622.80, up 0.297% on the week. September silver settled lower on Friday, at $28.062 an ounce, up 0.939% on the week. Gold is likely to hold in its current trading range of US$1,550 an ounce to US$1,640, with the yellow metal expected to hold at the upper end of that range, but not breaking through the ceiling, according to Kitco News.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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