Stock markets tumbled today, but the main index of the Toronto Stock Exchange did better than its American counterparts – thanks to the strength of gold and other commodities.

The S&P/TSX composite index dropped 48.57 points to 15,033.64 –  with gains by gold stocks offsetting some of the losses.

December gold rose US$9.50 to US$1,292.40 an ounce.

Meanwhile – in New York, the Dow Jones industrial average fell 274.14 points to 21,750.73 – and the S&P 500 dropped 38.10 points to 2,430.01.

The Nasdaq composite decreased 123.20 points to 6,221.91.

Our Canadian dollar saw an average price of 79.07 cents U-S, up 0.32 of a cent.

And oil advanced 31 cents to US$47.09 a barrel.