The outlook for the Toronto Stock Exchange was for the index to be weak in the morning but close higher. Indeed the TSX closed at its highest level since June 2008. Gold had its biggest move in weeks with a jump of $41.40 to above $1300, to close at $1314.10 amid more uncertainty over Iraq and growing fighting in Ukraine.
Meanwhile President Obama announced he was sending 300 military advisers to Iraq and called for a change in the Iraq government to represent all religious factions within the country.
This could be seen as escalation and commodity prices rose as a result. Crude oil moved up another 46 cents to close at $106.05 a barrel.
The move in gold drove up Barrick Gold stock to $19.50 a jump of 3.28%. Even Yamana Gold (YRI) moved to $9.50 a gain on 5.67% on the price increase for the precious metal.
TSX Market Direction Outlook for June 20 2014
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