• TSX ends up 0.5% at 33,002.70
• Materials sector gains 2.2% as gold hits a record high
• Industrials add 0.7%
• Celestica shares fall 6.6%

Jan 22 (Reuters) - Canada's commodity-linked main stock index rose ‌on Thursday as record-high gold prices boosted metal mining shares and investors cheered upbeat U.S. economic data.

The S&P/TSX Composite Index (.GSPTSE) , opens new tab ended up 151.17 points, or 0.5%, at 33,002.70, moving back in reach of the January 19 ‌record closing high.

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Wall Street's main indexes also climbed on buying tied to the rescinding of U.S. tariff threats on European allies and data that showed U.S. consumer spending up solidly in November and ‍October.

"We're right around all-time highs for the TSX ... and there's good reason for that," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

"The U.S. economy ⁠is doing really well. The Canadian economy is holding its own ‍and if we look at our commodities ... commodity prices are basically supportive for ‌Canada ‌and Canadian resource stocks."

Canada is a major producer of oil, as well as base and precious metals.

The materials group (.GSPTTMT) , opens new tab, which includes metal mining shares, rose 2.2% as gold pushed above $4,900 per ounce for the first ⁠time. The precious ⁠metal was powered by ongoing geopolitical tensions, a softer U.S. dollar and expectations of Federal Reserve interest rate cuts.

Shares of New Gold Inc (NGD.TO) , opens new tab rose nearly 12% and Seabridge Gold ‍Inc (SEA.TO) , opens new tab shares ended 12.6% higher.

Industrials (.GSPTTIN) , opens new tab were up 0.7% and consumer staples (.GSPTTCS) , opens new tab added 0.6%.

Five of the 10 major sectors ended lower, including energy (.SPTTEN) , opens new tab. It fell 1.3% as the price of oil settled 2.1% lower at $59.36 a ‍barrel.

Technology (.SPTTTK) , opens new tab lost 1.7%, with shares of AI infrastructure company Celestica (CLS.TO) , opens new tab falling 6.6%.

https://www.reuters.com/business/tsx-futures-gain-trump-softens-greenland-stance-2026-01-22/