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TSX May Open Lower As Gold, Oil Prices Slide

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Canada's benchmark index looked set to open lower on Tuesday, pressured from the weakness in gold and oil prices .

Stock futures for the December quarter on the S&P TSX index were down 0.1% recently.

Action Economics said the latest nudge lower in crude prices was provided by US President Donald Trump, who chastised Saudi Arabia's announcement on Monday that it will being trimming production by 500,000 barrels per day in December.

Meanwhile, gold futures hit one-month lows, as the dollar index remains near 17-month highs posted on Monday. Prospects for further US Federal Reserve rate increases following Friday's hot PPI data have supported the dollar, keeping pressure on gold prices .

The TSX lost 118 points on Monday, with the tech sector leading the decline.

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

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