This came right from bloomberg.com so check it out:
Jan. 3 (Bloomberg) -- Canadian stocks rose to a two-month high, led by Barrick Gold Corp. and EnCana Corp., as bullion and oil prices held near records, lifting materials and energy producers.
``It's a psychological thing,'' said Rob Callander, who helps manage about $1.9 billion, for Caldwell Securities Ltd. in Toronto. ``Oil hit $100. People suddenly get the feeling at $850 an ounce that gold may go to $1,000. They say `I better have some oil and gold stocks in the portfolio.'''
The Standard & Poor's/TSX Composite Index climbed 93.42, or 0.7 percent, to 12,020.18 as of 1:28 p.m. in Toronto, the highest since Nov. 8. The benchmark has advanced seven of the last eight days and gained 7.2 percent in 2007.
Today, gold rose to a record for a second day in London, reaching $867.90 an ounce. In New York, gold climbed near its all time high of $873 before retreating. Crude oil, which touched $100 for the first time yesterday, rose above yesterday's close of $99.62 a barrel before falling in New York. A report showed that U.S. gasoline and diesel inventories rose.
Barrick Gold gained C$2.78, or 6.1 percent, to C$48.43. The world's biggest bullion miner headed for its steepest two-day gain in 22 years after climbing 9.3 percent to a record C$45.65 yesterday.
Goldcorp Inc., the second-largest bullion miner by market value, added C$1.39 to C$37.72. Yamana Gold Inc., which mines in Brazil, Chile and the U.S., rose 97 cents, or 7.1 percent, to C$14.71. Kinross Gold Corp., Canada's third-biggest bullion producer, added 60 cents to C$20.60, extending a nine-year high.
Gold may rise to $1,000 an ounce in the first half, James Vail, who manages $1.2 billion at ING Investment Management Co. said in an interview on Bloomberg Television.
Grain Rally
Agricultural commodities also rallied as wheat had its biggest two-day increase in four months, soybeans traded near a 34-year high and corn neared an 11-year peak.
Potash Corp. of Saskatchewan Inc., the world's biggest fertilizer maker, gained C$2.90 to C$147.80, extending a record. Rival Agrium Inc. rose C$2.90, or 4.1 percent, to C$73.70
Agricultural stocks gained after Monsanto Co., the largest seed producer, reported profit that topped analysts' estimates and raised its earnings forecast for this year.
EnCana, North America's biggest natural-gas producer, added C$1.31 to C$70.56. Smaller rival Canadian Natural Resources Ltd. climbed C$1.04 to C$75.19. Suncor Energy Inc., the second-largest oil-sands miner in the world, rose C$1.04 to C$110.64. Talisman Energy Inc., which produces oil and gas in the North Sea, gained 32 cents to C$19.40. Oilexco Inc., which also explores for oil and gas in the U.K. North Sea, gained 82 cents, or 6.1 percent, to C$14.25.
Materials, Energy
Measures of raw-materials and energy shares accounting for more than two-fifths of the S&P/TSX's value advanced 2.7 percent and 1.3 percent, respectively.
Magna International Inc., Canada's largest auto-parts maker, fell C$1.896, or 2.5 percent, to C$75.63 ahead of U.S. reports today that are expected to show that vehicle sales declined in December.
Magna might spend as much as C$500 million ($502.7 million) to expand its manufacturing facilities in Turkey, the National Post reported, citing press reports from Turkey. Magna spokeswoman Tracy Fuerst declined to say how much the firm will spend.
To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net .
Last Updated: January 3, 2008 13:40 EST
