Bay Street stocks closed broadly lower, digesting the previous session’s big gains. The S&P/TSX composite index fell 34.98 points, or 0.4%, to 8,478.44.

Nine of the TSE’s 10 sector gauges were in the red. Only materials closed positive, thanks to strength in the gold sector.

The gold sub-index added 1.3% as gold futures closed above US$408 an ounce for the first time in nearly two weeks. The December gold contract was last at US$407.50, up $US1.50.

Placer Dome rose 23¢, or 1%, $22.08, while Iamgold Corp. closed up 40¢, or 4%, at $9.57.

Energy was down 0.2%, despite another rise in crude prices to near $45 a barrel.

Penny stock Thistle Mining seesawed during the session with over 31 million shares changing hands after the firm announced positive exploration results for its President Steyn Gold Mine in South Africa. Thistle shares closed down 0.5¢ at 9¢.

Another notable exception to today’s malaise was resort operator Intrawest, which earned US$2.6 million, or US5¢, in the fourth quarter ended June 30, besting analysts’ expectations of a loss for the period. The shares rose almost 5% to $21.70 on the TSX

The junior S&P/TSX Venture composite Index of small-cap issues rose 3.98 points to 1,517.33.

The Canadian dollar closed at US77.31¢ versus the U.S. dollar.

In New York, the Dow Jones industrial average added 3.40 points to 10,318.16. The tech-heavy Nasdaq composite index edged up 5.02 points to 1,915.40 and the broader S&P 500 advanced 2.51 points to 1,128.33.