12.12.202514:53:52UTC+00TSX Set to Post Fresh Record Highs

The S&P/TSX Composite index edged up by 0.2% on Friday, breaking past the 31,700 threshold for the first time. This ascent sets the stage for a weekly increase exceeding 1%, largely driven by the surge in mining stocks. Leading this charge were major players such as Agnico Eagle, Barrick Mining, and Wheaton Precious Metals, each recording rises between 1% and 2% as gold bullion prices surged toward record highs. Silver also hit historic price levels, boosting Franco-Nevada, Pan American Silver, and Lundin Mining shares by over 2%. In contrast, technology stocks presented a drag on the upward momentum, with Celestica dropping more than 5% and Shopify declining by over 1.5%. The week's financial dynamics were significantly influenced by central bank activities, as the Bank of Canada maintained steady interest rates while the U.S. Federal Reserve reduced its rates by 25 basis points, a move that bolstered investor risk appetite.