Canadian Stocks Climb as Gold Surge Offsets Trump Tariff Threat

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Or sign-in if you have an account.5[{ay)kb1dknnmpobn82m1r9_media_dl_1.png Bloomberg(Bloomberg) — Canadian stocks climbed Tuesday despite US President Donald Trump threatening 50% tariffs on the country’s exports, thanks to surging gold prices and a rally in tech hardware stocks.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe S&P/TSX Composite Index gained 1.2% on Tuesday, its biggest trading gain in just over a month. The largest sectors in Canada’s benchmark index — financials, energy and materials — all climbed.The tariff threat is being “overshadowed” in the Canadian stock market by gains in commodities including gold and oil, said Greg Taylor, chief investment officer at PenderFund Capital Management. The companies likely to be hurt by Trump’s proposed tariffs are smaller and not able to move the index on their own, he said by phone. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againPrecious metals names including Discovery Mining Ltd., Hudbay Minerals Inc. and Trekor Metals Ltd. drove the rally as dip-buying traders swooped in and helped drive gold and silver prices higher.Electronic component-maker Celestica Inc. was the top performer in the Canadian benchmark with a 11% surge at its highest point, joining a rally in tech hardware shares that played out in the US market. Taylor said Canadian investors shrugged off the tariff threats, which failed to dent the Canadian stock benchmark in 2025 despite repeated warnings. “All last year, it seemed every other week there was a different threat of tariffs or something else, and it didn’t seem to have much of an impact on the index, which had one of the better years in a long time,” he said.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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