TSX Futures Get Boost from Gold Rebound Amid Oil Price Pause

Futures tracking the TSX rose on Thursday as gold prices rebounded from recent losses. This gain in gold supported mining stocks, which are closely tied to the price of the precious metal.

The surge in gold was partly due to a pause in the rally in oil prices, which had been driving up inflationary pressures. Reports indicated that Saudi Arabia aims to restore around half of its East-West pipeline capacity within days and return it to full operation within six weeks.

Easing inflationary pressures also supported credit-sensitive stocks as bond yields fell. However, this was tempered by the US Federal Reserve's decision to raise interest rates, with FOMC members projecting another rate hike could be warranted this year in their SEP.