TSX Soars as Gold Prices Rebound and Fed Hikes Interest Rates

The Toronto Stock Exchange's S&P/TSX Composite Index rose by 336.26 points, or 0.95 per cent, to 35,827.53 on Thursday, its biggest one-day jump in two weeks.

The material sector led gains with a 3.2 per cent rise, driven by higher precious metal prices, particularly gold and copper.

Gold prices rebounded more than 2 per cent from a near six-week low, while copper prices also rallied.

Barrick Mining was up 3 per cent, while Discovery Mining and AbraSilver Resource rose 8.6 per cent and 9 per cent respectively.

The gains were attributed to the U.S. Federal Reserve's interest rate hike, which eased inflation fears and boosted risk appetite.