A drop in precious metals prices pressures TSX - The Globe and Mail

AI desk brief

TSX opened lower as precious-metals prices slipped, pressuring materials shares; the index was down 0.71% at 36,078.96 by 09:32 a.m. ET. Higher 2-year and 10-year yields and a rebound in Brent above 1% reinforced the bearish near-term backdrop for gold and silver, while traders watched Middle East negotiations and the U.S.-China summit for further macro shocks.

The report also flagged Fed tightening risk: policymakers have signaled rates may stay restrictive longer, and CME FedWatch showed a 50% chance of at least a 25 bp hike next month. Fed Governor Barr’s comments and later PMI data were cited as near-term catalysts for yields and precious-metals direction.