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« Maguire - Fed, LBMA, Comex & Banks On The Edge Of Disaster | Main | Amazing - GLD ETF Tells Customers You Can’t Have The Gold »

CANADA STOCKS-Gold miners hit hard as TSX drops to one-week low

Thu Sep 12, 2013 5:06pm EDT

* TSX falls 124.37 points, or 0.97 percent, to 12,701.05
* All of the 10 main index sectors decline
* Gold-mining shares shed more than 5 percent
* Drops in Goldcorp, Barrick have biggest impact on index
By John Tilak
TORONTO, Sept 12 (Reuters) - Canada's main stock index
dropped to its lowest point in a week on Thursday as gold-mining
shares tracked a dive in bullion prices on market fears the U.S.
Federal Reserve will announce a pullback of stimulus measures at
its meeting next week.
Bullion, seen a safe-haven asset, shed 3 percent after
gaining sharply in recent weeks on news of escalating tension in
Syria. Gold prices fell as the Fed meeting neared and as
investors watched Russia and the United States try to hash out a
deal to disarm Syria of its chemical weapons and prevent
military strikes. 
The price of silver tumbled 5.4 percent. 
Gold-mining shares recorded the biggest single-day
percentage fall in more than three months. They are down 42
percent so far this year. 

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