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Canadian stocks decline after gaining for two consecutive days, with gold prices and material sector driving the losses after Federal Reserve Chairman Ben Bernanke’s speech.
A slate of stocks and other assets linked to China’s growth prospects climbed Thursday, keying off an unexpected plan to cut borrowing costs as officials in the world’s second-largest economy work to fend off further slowing.
Gold futures fall after Federal Reserve Chairman Ben Bernanke’s testimony to Congress showed that the Fed stands ready to act, but offered no hint of what the central bank might do at its next policy meeting.
Gold and gold miners have been on a wild ride lately, with several changes in direction. We may be seeing another one, meaning it will be time to position yourselves accordingly.