CANADA STOCKS-Strong golds, U.S. data push TSX higher

Wed Aug 4, 2010 5:11pm EDT
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* TSX up 62.45 points, or 0.53 percent, at 11,845.05

* Strong bullion price boosts gold miners

* RIM shares drop on concerns over Saudi move (Adds details, quote)

By Jennifer Kwan

TORONTO, Aug 4 (Reuters) - Toronto's main stock index rose on Wednesday, bolstered by a firmer bullion price and stronger than expected U.S. economic data, which fueled cautious investor optimism about global economic recovery.

Gold miners on the upside included Barrick Gold ABX.TO, up 2.2 percent at C$43.38, and Goldcorp Inc G.TO, up 2.4 percent at C$40.72, and Agnico-Eagle AEM.TO, which rallied 4 percent to end the day at C$59.67.

The price of bullion broke above $1,200 an ounce as strong physical demand gave the metal its sixth straight daily gain. [GOL/]

U.S. Institute of Supply Management services activity data for July came in better than market expectations, which helped to boost investor optimism, analysts said. [.N]

As well, data showed U.S. private employers added 42,000 jobs in July, slightly better than economists had forecast. [ID:nN04224566] [ID:nEAP103300]   Continued...