The Globe and Mail reports in its Tuesday, Aug. 5, edition that Canada's benchmark stock index is outperforming the S&P 500 and Nasdaq Composite in 2025, mainly due to the gold sector. The Globe's Tim Kiladze writes that the S&P/TSX Composite Index has risen 11.1 per cent this year, compared with 6.9 per cent for the S&P 500 and 7.3 per cent for the Nasdaq. Gold producers are leading the gains, with Lundin Gold achieving a notable 120-per-cent return, including dividends. Four of the top five TSX performers are gold companies, including Dundee Precious Metals, SSR Mining and Kinross Gold, all with total returns of at least 65 per cent this year. The only non-gold company in the group is Celestica. Gold company returns are driven by the surging price of gold, which has risen 29 per cent this year to about $3,400 (U.S.) per ounce, nearing the record high of $3,508 (U.S.) set in April after President Donald Trump's tariff threats. The rising price of gold is due to several factors: increased demand from central banks; concerns about U.S. fiscal spending after Trump's budget added to the deficit; and a trade war that is adding more uncertainty to the global economy.