The Globe and Mail reports in its Wednesday edition that Canada's main stock index rose to a record high on Tuesday as higher gold prices bolstered the shares of metal mining companies and investors awaited a key U.S. inflation report and a Bank of Canada interest-rate decision this week. A Reuters dispatch to The Globe says that the S&P/TSX Composite Index ended up 101.48 points at 22,361.78, eclipsing the previous all-time record closing high that was set on Friday. "You had a nice rally in all things that matter to Canada," said Matt Skipp, president of SW8 Asset Management. "You've had oil prices move considerably higher; you've got precious and base metals rallying on the thought that even if inflation is somewhat higher, rates are still headed down." The materials sector rose 2.1 per cent as gold notched a record high ahead of U.S. inflation data on Wednesday that could offer clues on the timeline for expected Federal Reserve interest-rate cuts. Investors expect the Bank of Canada to leave its benchmark interest rate on hold at a 22-year high of 5 per cent on Wednesday but to then begin an easing campaign in June. The price of oil settled 1.4 per cent lower at $85.23 (U.S.) a barrel, crimping gains for energy.