Canada Stocks Gain Ground; Hit 52-week High; US Fiscal Deal Boosts Stocks; Metals and Mining Lead TSX Higher
Canadian stocks closed higher on Thursday, notching up a new fresh 52-week high. Most sectors were higher with Metals and Mining leading the broader markets.
Mining stocks received a boost on Thursday as Gold prices surged on the heels of an agreement by the US congress to extend the debt ceiling and reopen the parts of the government that have been closed for more than 2-weeks. Gold prices surged more than $37 per ounce with the December COMEX contract closing at $1,319.40.
The technical picture for the TSX is solid. Not only did the index hit a new 52-week high, but momentum surged generating a buy signal on the MACD (moving average convergence divergence index)
B2Gold Corp. (BTO.TO) was the most active share closing up 8.9% with 6 million shares changing hands.
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