Forex
TSX Hits One-Month Low Amid Gold Price Slump
The Toronto Stock Exchange (TSX) plummeted to a one-month low of 35,489.86 on Monday, September 28, 2026, as gold prices slumped by nearly 4%.
The sharp drop in precious-metal prices had a significant impact on the materials sector, which is heavily weighted towards gold and silver miners. The decline was further exacerbated by rising Treasury yields and a stronger US dollar, making non-yielding precious metals less appealing to investors.
Telecoms and financial stocks also contributed to the market's downturn, with Canadian banks sensitive to changes in bond yields and economic outlook. However, oil prices provided some relief for Canada's energy-heavy market, with November WTI crude rising 0.94% to $93.28 a barrel.