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Stock markets power higher on Fed comments

Stockhouse Editorial
0 Comments| July 11, 2013

North American stocks opened sharply to the upside Thursday after the U.S. Federal Reserve Chairman said the U.S. economy still needs low interest rates as unemployment remains high.
The TSX rose 123 points to 12,430, while the Venture exchange added nine points at 887.

Energy, gold, and mining stocks led the TSX’s advance Thursday.

Big movers on Bay Street included shares of San Gold (TSX: T.SGR), which jumped 21% to 11.5 cents after the miner reported second quarter gold production of 22,476 ounces.

The Dow moved 149 points higher to 15,440, and the Nasdaq advanced 39 points to 3,559.

Gold prices jumped $36, or 2.9%, to US$1283, while the price of silver gained 68 cents to $20.08. 

Tags: GOLD

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