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Traders work on the floor at the New York Stock Exchange, July 24, 2013.

Brendan McDermid/Reuters

The Toronto stock market was modestly higher as gold hovered around a two-month high.

The S&P/TSX composite index crawled ahead 11.90 points to 12,716.42 shortly after open.

The Canadian dollar dropped 0.37 of a cent to 96.68 cents US after Statistics Canada reported that manufacturing sales fell in June for the fourth time in six months, dropping 0.5 per cent to $48.2-billion.

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In commodities, the September crude contract fell six cents to $107.27 a barrel as unrest in Egypt keeps traders cautious over how it could affect supply through the region.

December bullion rose $1.60 to $1,362.50 an ounce. September copper gained 2.9 cents to US$3.37 a pound.

On Wall Street, the Dow was down 12.61 points to 15,099.58, the Nasdaq rose 2.33 points to 3,608.44 and the S&P 500 lost 2.07 points to 1,659.25.

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