Though the Toronto Stock Exchange received boons from US investors and major deals involving Nortel and Encana in June, they was not enough to save Bay Street, as gold shares tumbled.
Gold suffered a nasty fall after a positive showing of brief surges throughout June.
The market for gold fell so steeply that the precious metals sector caused waves throughout the TSX. As gold plunged to $629.50, down 3.44%, investors sought shelter from the stormy market by dumping their gold profits into safe havens such as the U.S. dollar and treasury bonds.