Canada's main stock market extended gains Friday, a day after itbreached the 12,000 level for the first time since early May,buoyed by domestic and European economic news. It closed up nearly 60 points at day highs.
On the home front, the relative health of the Canadian economywas highlighted as Statistics Canada revealed early today theconsumer price index advanced 1.3% in July from a year ago, versusa 1.5% gain the prior month. The core rate, which excludes eightvolatile products, increased 1.7% after a June gain of 2%. Economists surveyed by Bloomberg forecast that the total rate wouldbe 1.5% and core 2%.
Elsewhere, German Chancellor Angela Merkel was reported as beingsupportive of European Central Bank intervention to calm the eurozone's debt woes.
Looking to next week, gold is seen going higher but likely tohold in its current range, with market watchers suggesting it mighttry to test the upper end of the band, according to Kitco news.
It said prices were mixed Friday and for the week. Themost-active October platinum contract on the New York MercantileExchange settled at US$1,473.10 an ounce, up 5.2% on the week. Themost-active December gold contract on the Comex division of theNymex settled lower Friday, at $1,619.40, down 0.21% on the week.September silver settled lower on Friday, at $28.002 an ounce, alsodown 0.21% on the week.
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