The Toronto stock market closed higher as worries about European government debt pushed bullion to fresh record highs. The S&P/TSX composite index jumped 127.37 points to 13,052.48, while a rising greenback pushed the Canadian dollar down 0.33 of a cent to 99.63 cents US. The December bullion contract on the New York Mercantile Exchange closed up $5.50 at US$1,403.20 an ounce.
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Investors bought into the safe haven as shares in Ireland's banks fell to record lows and borrowing costs were near euro-era highs as the Irish government prepared to discuss its fiscal survival plans with top European Union officials. Oil rose 21 cents to US$87.06 a barrel. The Dow Jones industrial average was down 37.24 points at 11,406.84. The Nasdaq composite index gained 1.07 points to 2,580.05, while the S&P 500 index lost 2.6 points to 1,223.25.