27 May, 2017
Canada's main stock index started on a positive note, but dipped into the red by late-morning.
The S&P/TSX Composite Index added 6.20 points to 15,416.93 while the TSX Venture Exchange gained 8.73 points to 808.59.
The June gold contract soared US$11.70 to US$1,268.10 an ounce, while the S&P/TSX global gold index gained 0.74 per cent.
"We're still seeing the USA dollar sub-performing and I think that's giving gold some support", said Andrew Pyle, a senior wealth adviser at Scotia Wealth Management.
The Organization of Petroleum Exporting Countries' (OPEC) decision to extend output cuts until the first quarter of 2018, disappointed investors betting on longer or deeper cuts.
In New York, the Dow Jones industrial average lost 12.32 points to 21,070.63. S&P 500 e-mini futures were down 0.13 per cent and Nasdaq 100 e-mini futures were down 0.08 per cent.
"Coming into month-end people tend to not do much and they do even less in front of a long weekend", said Rick Hutcheon, chief operating officer at RKH Investments, referring to US markets being closed on Monday for Memorial Day.
The Canadian dollar fell 0.01 of a USA cent to an average price of 74.32 cents US.
The July crude contract was up 15 cents at US$49.05 per barrel and the July natural gas contract was down one cent at US$3.26 per mmBTU.
