12:11:03 EST Wed 18 Feb 2026
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Globe/wire say TSX pulls back as gold price declines 2%

2026-02-18 08:57 ET - In the News

The Globe and Mail reports in its Wednesday edition that Canada's main stock index fell on Tuesday as recent volatility in commodity-linked stocks spooked investors, offsetting domestic inflation data that could forestall a shift to interest rate hikes by the Bank of Canada. A Reuters dispatch to The Globe says the S&P/TSX Composite Index ended down 177.16 points at 32,896.55 after clawing back much of its earlier declines. Wall Street's major indexes bounced back to end slightly positive after a negative start to the session. The materials sector, which includes metal mining shares, declined 2.5 per cent. The price of gold remained volatile, falling more than 2 per cent, as signs of progress in U.S.-Iran talks dampened safe-haven demand, while a stronger U.S. dollar added to the selling pressure. Energy also lost ground as the price of oil settled 0.9 per cent lower at $62.33 (U.S.) a barrel. Still, most major sectors ended higher, including consumer discretionary and industrials which added 1.1 per cent and 0.7 per cent, respectively. Investors see a 40-per-cent chance the Bank of Canada will cut interest rates further this year after data showed Canada's annual inflation rate slowed to 2.3 per cent in January.

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