• TSX up 0.4% at 33,144.98
• Eclipses Monday's record closing high
• Materials group adds 1.7% as gold hits record high
• Bausch Health falls 11% after failed late-stage trial

Jan 23 (Reuters) - Canada's main stock index rose to a ‌record high on Friday as investors looked past recent geopolitical uncertainty, and soaring commodity prices boosted resource shares.

The S&P/TSX Composite Index (.GSPTSE) , opens new tab ended up 142.28 points, or 0.4%, at 33,144.98, eclipsing Monday's record closing high. For the week, the index was up 0.3%, ‌despite a sharp drop on Tuesday that was tied to the threat of new U.S. tariffs on goods from Europe.

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"Few have been better able to ignore the noise than Canada’s equity market," Doug Porter, chief economist at ‍BMO Capital Markets, said in a note. "The latest surge in metals prices provided support for materials, assisted by the spike in gas and a firming in crude oil."

The materials group, ⁠which includes metal mining shares, added 1.7%. Silver prices rose above $100 an ounce ‍for the first time, while gold hit another record en route to $5,000/oz as investors piled into ‌safe-haven ‌assets.

Barrick Mining's (ABX.TO) , opens new tab efforts to spin off its North American assets will hinge on the company's joint venture partner Newmont, according to documents seen by Reuters and former Barrick executives that demonstrate a reversal of fortunes for two global mining companies. ⁠Shares of Barrick ⁠were up 3.1%.

The price of oil also rose, settling 2.9% higher at $61.07 a barrel, after U.S. President Donald Trump renewed threats against major Middle Eastern producer Iran, raising concerns of military action that could ‍disrupt supplies.

Energy (.SPTTEN) , opens new tab gained 1.2% and technology (.SPTTTK) , opens new tab was up 1.4%. The latter was ending a losing streak of eight straight days of declines.

Four of the index's 10 main sectors ended lower, including industrials (.GSPTTIN) , opens new tab, which lost 0.7%, and healthcare.

Healthcare (.GSPTTHC) , opens new tab ended 2.8% ‍lower, with shares of Bausch Health (BHC.TO) , opens new tab down 11% after the drugmaker's brain dysfunction treatment failed late-stage trials.

https://www.reuters.com/business/tsx-futures-steady-investors-take-pause-after-strong-commodities-led-rally-2026-01-23/