Gold fell to an eight-month low as silver also fell to a four-year low, followed by platinum dropping to its lowest this year. Bullion is also expected to have a loss for this year. The S&P/TSX composite index decreased 112.28 points to 15,153.07, and the Canadian dollar had a drop of 0.52 per cent to 90.83 cents US. In Toronto, metals and the mining sector had a 2.57 decrease. Experts say that investors need to prepare for rough times ahead.
“We’ve been in an environment for the past couple of years where volatility has been well below average and I think that even with the return to a normal type of market volatility or fluctuations is going to be a little bit of an adjustment for investors who didn’t have to deal with that type of fluctuations for a couple of years,” Craif Fehr, a Canadian market strategist at Edward Jones, told CTV News. “Investors should reposition their portfolios and expectations for higher volatility.”
A report by HSBC on Tuesday will determine results on Chinese manufacturing, and whether China is set for growth. CJ
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