Canadian market rises on strength in gold prices

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Canadian market rises on strength in gold prices
SAN FRANCISCO (MarketWatch) -- Toronto's main stock index rose in early trade Monday, with gold miners leading the gains as gold futures climbed to fresh record levels near $1,900 an ounce. The S&P/TSX Composite Index added 1.4%, or 166 points, to 12,171.80. The S&P/TSX Capped Materials Index rose 1.5% as gold put on 1.4%. Shares of Goldcorp. Inc. climbed 3.2%. The S&P/TSX Capped Diversified Metals and Mining Index gained 1.7% as shares of Teck Resources rose 1.2%. In currencies, the Canadian dollar strengthened, with the U.S. dollar down 0.5% to buy 98.58 Canadian cents.