FX.co ★ TSX Secures Weekly Gains

The S&P/TSX Composite Index experienced a 1% increase, closing at 23,588 on Friday, culminating a turbulent week with a 1.7% rise. This growth was primarily driven by major mining stocks amid a general stabilization in commodity markets. Notable contributors to this advance were Agnico Eagle, Wheaton Precious Metals, Barrick Gold, and Franco-Nevada, which saw their stocks soar between 4.7% and 6.4%, spurred by record-breaking gold prices driven by heightened demand for safe-haven assets. The financial sector also experienced gains, underpinned by robust earnings from U.S. banking counterparts, while the energy sector benefited from climbing oil prices. Nonetheless, trade tensions provided a looming concern as President Donald Trump implemented a uniform 10% tariff, sparing only China, whose exports are subject to a significant 145% tariff. In response, China elevated its tariffs on U.S. goods to 125% from 84%, with the finance ministry warning that prolonged escalation would be economically irrational and historically unprecedented.