The S&P/TSX Composite Index trimmed earlier losses but closed 0.2% lower on a shortened Wednesday session, easing from the record high yesterday and underperforming US equities due to pressure from gold miners. Heavyweight bullion producers Barrick lost 0.8% and Agnico Eagle fell 0.3% as gold prices took a breather from their records touched earlier today. The metal had been supported by the outlook of expansionary fiscal policy from the world's largest economies and added geopolitical risk as the US heightens tensions against Venezuela. Also, First Quantum Minerals dropped 1.5% after selling its Las Cruces copper mine for $190 million. In the meantime, banks traded in Toronto were mostly higher. Bank of Canada minutes released yesterday confirmed that the central bank is less likely to deliver rate cuts next year than the Federal Reserve, supporting domestic fixed income. The Toronto Exchange will be closed on Thursday and Friday for Christmas and Boxing Day holidays.