TORONTO — Canada’s main stock index pushed to another record close on Thursday, helped by a rise in the price of gold, while U.S. markets also closed higher after mixed trading earlier in the day.
The S&P/TSX composite index closed up 91.59 points at 26,615.75 in broad gains that included telecoms, financials and health care, while tech and base metal stocks were down.
The market has been on a fairly steady climb since early April when U.S. tariff plans rattled markets globally and helped send gold prices soaring, which in turn has helped the TSX, said John Zechner, chairman and lead equity manager at J. Zechner Associates.
“I think people lose sight of the fact how important the gold stocks are in our index now,” he said, noting the sector makes up about 13 per cent of the index.
Other sectors like financials and energy haven’t been performing that well but gold stocks have benefited from the price of the metal climbing…
