North American stock markets fall in morning trading while gold continues to shine

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TORONTO — North American stock markets were down in late morning trading while gold prices reached a nine-year high and inched towards record levels.

The S&P/TSX composite index was down 40.87 points at 16,130.19.

In New York, the Dow Jones industrial average was down 128.25 points at 26,877.59. The S&P 500 index was down 3.69 points at 3,272.33 while the Nasdaq composite was down 15.06 points at 10,691.06.

The Canadian dollar traded for 74.65 US compared with 74.52 from Wednesday.

The September crude contract was down 19 cents at US$41.71 per barrel and the August natural gas contract was up 5.8 cents at US$1.74 per mmBTU.

The August gold contract was up US$20.60 at US$1,885.70 an ounce and the September copper contract was up 1.35 cents at nearly US$2.94 a pound.