Canadian Stocks Extend Weekly Losses -- Canadian Commentary

(RTTNews) - Canadian stocks continued to fall Friday as expectations that the Federal Reserve will raise interest rates next month hit commodity prices.

The benchmark S&P/TSX Composite Index slipped 56.95 points to 13,36824.

The Gold Index dropped 2.3 percent, while other mining shares fell 2.65 percent.

Energy stocks lost 1.4 percent as crude oil prices tumbled.

Gold prices fell for a sixth consecutive week, with Friday's losses pushing the preious metal to its lowest in more than five years.

On the economic front, Statistics Canada reported this morning that Canada's industrial product price index declined by 0.5 percent in October. Economists had been expecting a decrease of 0.1 percent.