Futures linked to Canada's main stock index rose on Tuesday, as precious metal prices bounced back from their steepest two-day slide in decades, with gold set for its biggest daily jump since November 2008.
March futures on Toronto's S&P/TSX Composite Index were up 0.45% as of 6:02 a.m. ET.
Toronto's benchmark stock index (.GSPTSE), opens new tab closed higher on Monday, recouping some of the previous session's steep losses, with broad-based gains led by financial and consumer-related stocks.
On Tuesday, spot gold surged about 5%, while silver climbed 8.5%.
Copper prices also rebounded after news that China plans to boost stockpiles of the metal, with renewed risk sentiment among global investors providing further support.
Oil prices steadied after losses earlier in the session. Crude prices have come under pressure recently as U.S.-Iran tensions ease, with the countries set to resume nuclear talks on Friday.
Brent crude futures and U.S. West Texas Intermediate crude were up 0.1% and 0.2%, respectively.
Recent volatility in commodities amid the uncertain geopolitical landscape has impacted Toronto's resource-heavy stock market, with the benchmark index seeing sharp swings in either direction.
March futures on Toronto's S&P/TSX Composite Index were up 0.45% as of 6:02 a.m. ET.
Toronto's benchmark stock index (.GSPTSE), opens new tab closed higher on Monday, recouping some of the previous session's steep losses, with broad-based gains led by financial and consumer-related stocks.
On Tuesday, spot gold surged about 5%, while silver climbed 8.5%.
Copper prices also rebounded after news that China plans to boost stockpiles of the metal, with renewed risk sentiment among global investors providing further support.
Oil prices steadied after losses earlier in the session. Crude prices have come under pressure recently as U.S.-Iran tensions ease, with the countries set to resume nuclear talks on Friday.
Brent crude futures and U.S. West Texas Intermediate crude were up 0.1% and 0.2%, respectively.
Recent volatility in commodities amid the uncertain geopolitical landscape has impacted Toronto's resource-heavy stock market, with the benchmark index seeing sharp swings in either direction.
