MID-DAY: TSX slides on heavy gold price drop; Dow weighted on political concerns
Despite a strong report from CIBC, the TSX is feeling weight from a drop in gold prices. The price of the precious metal is slipping to 1,196 an ounce and is pulling the Bay Street index down 9 points to 16,337.
Across the border, the Dow is feeling pressure from China US tensions and Trump’s political issues. The Wall Street index is down 11 points to 25,721.
The ever volatile oil is coming down off a recent jump this morning as the Greenback gains strength from nervous investors. The US crude price is down to 67.70 a barrel.
The Loonie is also falling against it’s American counterpart to 76.58 cents US.
And CIBC continued the positive financial earnings reports, started by RBC yesterday, with earnings topping $1.3 billion in it’s third quarter.