After spending much of Friday in positive territory, the TSX ended the trading day on a negative note, falling 18.38 points to 11,927.59, while the gold price moved to a record high and the TSX Venture added 6.80 points to 1,488.18.

Gold for August delivery climbed $9.60 to a new high of $1,258.30 an ounce Friday, as investors reportedly continued to look to the metal as a safe haven.

Meanwhile, the TSX global gold index again posted the greatest gains of the day, up 1.35%, and several TSX-listed gold stocks also moved higher, including Barrick Gold (TSX: T-ABX), up 2%, Yamana Gold (TSX: T-YRI), which climbed 1.8%, and Kinross Gold (TSX: T-K), which added 1.06%.

Meanwhile, the materials sector also moved higher, up 0.64%, while energy gave back 0.2%. Crude oil for July delivery rose 0.5% to $77.18 a barrel.

In economic news, Statistics Canada reported that non-residents added $12.4 billion to their holdings of Canadian securities in April, mainly in the form of government bonds. Meanwhile, Canadian acquisitions of foreign securities slowed to $1.4 billion, focused on equities.

Stats Can also said that the composite leading index rose by 0.9% in May, equal to its average increase over the past year, led by the manufacturing components. Meanwhile, the housing index fell 1.2%, its first decline since April 2009.

On the TSX, shares of Tembec (TSX: T-TMB) climbed 48 cents to $2.22, as the paper products company provided a forecast for its June quarter, saying that it expects that EBITDA will be in the range of $47 million to $53 million. This compares with EBITDA of $32 million in the most recent quarter, says the company. Following the recent sale of two pulp mills, Tembec says liquidity is expected to be approximately $250 million, up from $138 million at the end of the March 2010 quarter.

Gammon Gold (TSX: T-GAM) announced that it has executed a binding letter of intent that will give the company the option to acquire the 43,229 hectare block of mineral concessions called the "Los Jarros" Properties from Valdez Gold (TSX: V-VAZ). Under the terms of the letter, Gammon will have the option to purchase a 100% interest in the properties through a series of successive payments within 48 months of the date of the agreement. Shares of Gammon Gold slid 28 cents to $6.76.

And, SNC-Lavalin Group (TSX: T-SNC) announced late Friday afternoon that it has been awarded a $142 million engineering, procurement, construction contract by Manitoba Infrastructure and Transportation to design and build a four-lane, four-kilometre section of a divided expressway linking Winnipeg's inland port to the James A. Richardson International Airport and the Perimeter Highway. Shares of SNC-Lavalin Group moved 15 cents higher to $45.94.