FX.co ★ TSX Futures Edges Up as Gold Gains on Middle East Tensions

Futures linked to the S&P/TSX Composite Index inched higher on Wednesday, as rising gold prices helped offset uncertainty stemming from escalating conflict in Iran. Gold rebounded from Tuesday’s decline as investors moved into safe-haven assets, lending support to mining stocks. In contrast, Canadian banks were poised to open lower, with ongoing geopolitical tensions fueling inflation worries and driving up credit costs. Energy producers also came under pressure as oil prices pulled back following a three-day rally. Elsewhere, a Brazilian court on Tuesday halted the transfer of mineral rights tied to a gold asset sale from Equinox Gold to Chinese miner CMOC.