04/22/2015 11:49 EDT | Updated 06/22/2015 01:12 EDT

Toronto stock market slips on weakened gold prices; Canadian dollar rises

TORONTO - The Toronto stock market weakened near midday, weighed down by falling gold prices.The S&P/TSX composite index was off 75.82 points at 15,270.62, after pulling back just over 66 points on Tuesday.The decline came as the gold sector slid 2.9 per cent, with the June gold contract losing $14.30 to US$1,188.80 an ounce.Gold prices have been dropping as a spate of positive U.S. economic data takes some of the shine off the commodity. Energy stocks were slightly higher even as the June crude contract moved down 22 cents to US$56.41 a barrel.Meanwhile, the Canadian dollar was up 0.24 of a U.S. cent at 81.67 cents.In New York, the Dow Jones industrial average rose 40 points to 17,989.59, the Nasdaq advanced 5.72 points to 5,019.82 and the S&P 500 gained 4.85 points to 2,102.14.