GOLD MCX BELOW 44900 TARGET PRICE 42280 | Neal Bhai

GOLD MCX BELOW 44900 TARGET PRICE 42280. Canada’s commodity-heavy main stock index fell on Wednesday, as a decline in bullion prices and material stocks offset gains in oil prices and optimism over an economic rebound from vaccination rollouts and a U.S. fiscal package.


  • At 9:53 a.m. ET (14:53 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 79.22 points, or 0.43%, at 18,342.38.
  • The value of Canadian building permits rose by 8.2% to a record level of C$9.9 billion ($7.8 billion) in January from December, Statistics Canada said on Wednesday.
  • Eight of the index’s 11 major sectors were lower, with mining stocks falling the most.
  • The materials sector, which includes precious and base metals miners and fertilizer companies, lost 2.1% with gold futures falling 1.2% to $1,713 an ounce as rising U.S. bond yields and firm equities dull its appeal.
  • Osisko Mining Inc fell 5.4%, the most on the TSX. The second biggest decliner was Torex Gold Resources Inc , down 4.7%.
  • The energy sector climbed 2.1% as U.S. crude prices were up 1.7% a barrel, while Brent crude added 1.4%.
  • The financials sector gained 0.2%. The industrials sector fell 0.1%.

Read More : Gold Price Forecast : Gold Trading Key Zone $1650-$1720

  • On the TSX, 81 issues were higher, while 134 issues declined for a 1.65-to-1 ratio to the downside, with 34.19 million shares traded.
  • The largest percentage gainers on the TSX were Laurentian Bank of Canada and Sleep Country Canada Holdings , which jumped 6.1% and 5.4% respectively after earnings beat.
  • The most heavily traded shares by volume were The Supreme Cannabis Co Inc, down 5.2%; Suncor Energy, up 2.9% and Rogers Communications Inc, down 0.4%.
  • The TSX posted 11 new 52-week highs and no new lows.
  • Across all Canadian issues there were 39 new 52-week highs and 4 new lows, with total volume of 73.06 million shares.

Source : Reuters

GOLD MCX BELOW 44900 TARGET PRICE 42280 | Neal Bhai via @goldsilverrepor
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