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TSX Slumps More Than 1 Percent in Gold, Oil Rout

July 20, 2015

Canada’s main stock index closed sharply lower on Monday, in a broad-based rout led by a massive plunge in gold mining and energy shares, hurt by a sharp retreat in commodity prices.

Gold plunged more than 4 percent to five-year lows as sellers in New York and China, a top consumer, dumped the precious metal. With the greenback strengthening ahead of an expected interest rate hike by the Federal Reserve this year, investors have been moving away from holding safe-haven gold.

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