Bay Street Buckles As Commodities Drop -- Canadian Commentary

(RTTNews) - Canadian stocks plunged Friday, as commodity prices remained in free fall due to a stronger U.S. dollar.

The S&P/TSX Composite Index was down 188.84 points, or 1.28%, to 14,555.41.

On Wall Street, however, U.S. markets continued to take Donald Trump's shock election victory in stride, with the Dow Jones Industrial Average extending record highs.

Dec. WTI oil down $1.25, or 2.8%, to settle at $43.41/bbl.

A stronger dollar also weighed on oil prices, which were down 1.5% for the week.

Oil has dropped three weeks in a row.

Dec. gold dropped $42.10, or 3.3%, to settle at $1,224.30/oz.

Gold futures suffered a weekly loss of more than 6%, the largest since 2013.

Teck Resources (TCK.TO) CEO Don Lindsay told BNN the company can be debt free in 18 months.

Kirkland Lake Gold has received joint, unsolicited bids from South Africa's Gold Fields Ltd. and Silver Standard Resources Inc.