CANADA STOCKS-TSX pushes higher with surging gold price

Tue Oct 6, 2009 5:40pm EDT
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* TSX closes up 1.3 percent at 11,247.97

* Gold miners lead way with gold price at record high

* Australian rate hike boosts market sentiment

* Rogers falls as iPhone monopoly nears end (Adds details and comments)

By Ka Yan Ng

TORONTO, Oct 6 (Reuters) - Toronto's main stock index jumped on Tuesday as economic recovery hopes got an unexpected shot in the arm and record high gold prices boosted shares of Barrick Gold ABX.TO and other gold miners.

Market heavyweight Barrick was up 3.98 percent at C$41.25, making it the day's top gainer. Shares of fellow miner Goldcorp G.TO were not far behind, up 4.8 percent at C$44.22.

Yamana Gold YRI.TO gained 7.6 percent to C$12.05 after it said third-quarter production rose 9 percent from the previous quarter, while costs remained in line with expectations. [ID:nN06432345].

Gold prices hit a record high above $1,040 an ounce after a media report, later denied, that Gulf Arab states were in talks to abandon the U.S. dollar in oil trade. [GOL/]   Continued...