Category: Gold News

@ the Bell: Markets rally as gold hits new high | 2024-03-07 | Investing News

Mining and industrials gains pushed Canada’s main stock index higher on Thursday though the telecom sector was the only drag on the TSX. Traders assessed another day of Federal Reserve Chairman Jerome Powell’s congressional testimony and U.S. economic data. Spot gold hit a new all-time high during trading.

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U.S. stocks scored another win across the board as major averages posted their second winning session in three days after Wall Street’s worst day in three weeks earlier this week.

The Canadian dollar traded for 74.27 cents compared with 73.96 cents U.S. on Wednesday.

U.S. crude futures traded $0.24 lower at $78.89 a barrel, and the Brent contract lost $0.17 to $82.79 a barrel.

The price of gold was up US$11.68 to US$2,159.40.

In world markets, the Nikkei was down 492.07 points to 39,598.71, the Hang Seng was down 208.31 points to 16,229.78, the FTSE was up 14.69 points to 7,694.00, and the DAX was up 126.14 points to 17,842.85.

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