Gold analysts are bearish for a second week as prices head for the biggest monthly drop since June and approach this year’s low on speculation the Federal Reserve will curb stimulus as the economy strengthens.
Saputo Inc.’s sweetened bid for an Australian cheesemaker threatens to erode any cost savings from the takeover, making Canada’s biggest milk processor the third- worst performer among global rivals this year.
Pretium Resources Inc. has plunged more than 50 percent in Toronto in the past five weeks after a dispute over how much gold is at a property in British Columbia fuels speculation the deposit is less promising than previously estimated.
Energy companies with refineries such as Cenovus Energy Inc. were the darlings of Canada’s oil patch a year ago. Now they’re out of favor with some investors as a 15 percent rise in crude prices squeezes refining profits.