Gold sector drags down TSX

The Dow Jones industrial average fell just shy of breaking the 22,000 mark

Gold stocks dragged down the Toronto Stock Exchange’s main index as investors turned away from the precious metal.

The S&P/TSX composite index fell 22.07 points to 15,097.84 as the December gold contract shed US$10.70 to US$1,279.70 an ounce.

In New York, the Dow Jones industrial average gained a meagre 5.28 points and fell just shy of breaking the 22,000 mark at 21,998.99.

The S&P 500 composite index fell 1.23 points to 2,464.61, while the Nasdaq composite index declined 7.22 points to 6,333.01.

The Canadian dollar was trading at an average price of US78.40¢, down 0.31 of a U.S. cent.

Elsewhere in commodities, the September crude contract lost US$0.04 to US$47.55 a barrel, the September natural gas contract fell US2.4¢ to about US$2.94 per mmBTU and the September copper contract retreated about US2.2¢ to US$2.88 a pound.