By Wallace Witkowski, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold prices helped Canadian stocks break their four-day losing streak Thursday, but just barely, as futures for the precious metal bounced off 10-month lows.
Shares of Barrick Gold Corp. /zigman2/quotes/209252292/delayed CA:ABX -2.41% closed up 6.9%, Goldcorp Inc. /zigman2/quotes/225792379/delayed CA:G +1.77% jumped 6.9%, Yamana Gold Inc. /zigman2/quotes/206359073/delayed CA:YRI -2.76% shares rose 4.6%, Eldorado Gold Corp. /zigman2/quotes/207321207/delayed CA:ELD -2.52% rose 5.8%, and Kinross Gold Corp. /zigman2/quotes/200423011/delayed CA:K -2.34% shares advanced 6.5%.
The S&P/TSX Composite Index rose less than 0.1% to 11,330.68 as the S&P/TSX Capped Materials Index /zigman2/quotes/210598474/delayed XX:TORGC195 -2.52% advanced 3.7%. For the week, the S&P/TSX Composite Index is down 3.1%.
Gold for June delivery /zigman2/quotes/210036777/delayed GCM22 -0.46% rose $38.30, or 2.5%, to settle at $1,574.90 an ounce on the New York Mercantile Exchange. Read more on gold turnaround.
The S&P/TSX Capped Energy Index /zigman2/quotes/210598495/delayed XX:TORGC187 -3.44% rose 0.1%, led by Suncor Energy Inc. /zigman2/quotes/204570600/delayed CA:SU -3.51% , which traded up 0.3%, and Canadian Natural Resources Ltd. /zigman2/quotes/203742161/delayed CA:CNQ -3.19% , with shares up 1.5%.
Oil for June delivery /zigman2/quotes/209724914/delayed CLM22 -0.95% slipped 25 cents, or 0.3%, to settle at $92.56 a barrel on the Nymex.
The Canadian dollar continued its fall against its U.S. counterpart /zigman2/quotes/210561978/realtime/sampled USDCAD +0.6078% with the greenback buying C$1.0193, compared with C$1.0118 late Wednesday.
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