* TSX up 45.06 points at 11,752.38
* Gold mining shares headline latest rally
* Higher starts follows Tuesday's 2.27 pct gain
(Adds details and comments)
By Frank Pingue
TORONTO, Dec 2 (Reuters) - Toronto's main stock index rose
to its highest level in more than 14 months on Wednesday,
adding to a big gain in the previous session, as record high
gold prices sparked a rally in shares of gold miners.
Shares of Barrick Gold Corp (ABX.TO: Quote, Profile, Research), which headlined the
early rise, were up 2.4 percent at C$49.40, while Kinross Gold
(K.TO: Quote, Profile, Research) was up 3.6 percent at C$22.90.
The gains in gold miners came as the price of gold hit
another record high, $1,216.75 an ounce, on expectations of
further U.S. dollar weakness. [GOL/]
"I thought we'd come in here with a take the money and run
sort of attitude but so far we are up marginally here." said
Ian Nakamoto, director of research at MacDougall, MacDougall &
MacTier. "But gold just seems to keep moving up here."
The rise in the TSX follows a 2.27 percent gain in the
previous session powered mostly by energy and gold players.
At 10:05 a.m. (1505 GMT), the S&P/TSX composite index
.GSPTSE was up 45.06 points, or 0.38 percent, to 11,752.38.
Earlier it rose as high as 11,753.55, its highest level since
Oct. 1.
($1=$1.04 Canadian)
(Editing by Peter Galloway)
((frank.pingue@thomsonreuters.com ; +1 416 941-8094; Reuters
Messaging: frank.pingue.reuters.com@reuters.net))
