Trump tariffs lift TSX, precious metals to highs

The TSX climbed 90 points to a record close of 33,090 after gold and silver surged to new heights. Investors were seeking safety in the precious metals after Trump threatened eight European nations, including Germany, France and the U.K. with tariffs if it didn’t hand over Greenland. Silver soared 6.5% to US$94.70 while gold jumped US$74 to US$4,670. European indices slumped in response to Trump’s latest bully tactic.

Only four sectors were positive on Bay Street, but massive gains in materials outweighed losses in sectors such as tech. Materials monopolized Monday’s gainers, including Iamgold up 9.73% after reporting, and Silvercorp up 5.21% Meanwhile, Keyera closed -3.91% and Goeasy -3.92% after it was downgraded. In small caps, Savaria rallied 2.78%. Meanwhile, WTI was flat at US$59.44. Closed today to commemorate civil rights leader, Martin Luther King, Jr., Wall Street will reopen on Tuesday. At the Monday close, U.S. futures were down roughly 1%.

🥇 Iamgold Corp (IMG-T) +9.73%

🥈 Silvercorp Metals Inc. (SVM-T) +5.21%

🛢 Keyera Corp (KEY-T) -3.91%

🏛 goeasy (GSY-T) -3.92%

🦽 Savaria Corp (SIS-T) +2.78%