* TSX up 91.34 points, or 0.8 percent, to 11,499.02
* Gold price hits record high above $1,130 an ounce
* Resource stocks lead TSX rally (Adds details, quote)
By Jennifer Kwan
Barrick rose 1.4 percent to C$45.73 and Goldcorp climbed 0.9 percent to C$46.65 as the price of gold touched a record high above $1,130 an ounce on a slide in the U.S. dollar. [GOL/] Teck Resources TCKb.TO climbed 2.6 percent at C$34.34.
“Gold seems to be the feature today,” said John Ing, president of Maison Placements Canada. “Gold is fairly strong on the weak U.S. dollar.”
A communique at the close of a two-day Asia Pacific summit in Singapore omitted a reference to “market-oriented exchange rates,” suggesting China may not be ready to let the yuan rise gradually against the dollar.[FRX/] [ID:nSP43459]
The greenback also fell on rosier-than-expected U.S. retail sales data for October. [ID:nN16507114], which boosted economic optimism and eroded the U.S. dollar’s safe-haven appeal.
Weakness in the greenback also helped boost the price of oil, which climbed above $77 a barrel. [O/R]
At 9:59 a.m. (1459 GMT), the S&P/TSX composite index .GSPTSE was up 91.34 points, or 0.8 percent, at 11,499.02, with all of its 10 main groups higher.
$1=$1.04 Canadian Reporting by Jennifer Kwan; editing by Peter Galloway