Canada Stock Market Index (TSX) at 31915.19points

2026-01-30 21:08 By Felipe Alarcon 1 min. read

The S&P TSX Composite plunged 3.3% to close at 31,924 on Friday, marking its worst session in months and trimming monthly gains to a modest 0.7% as a heavy collapse in gold and silver prices triggered sharp selling across mining-heavy sectors.

Materials led declines after gold fell more than 9%, prompting aggressive profit-taking in precious metals names that had surged earlier in January.

Agnico Eagle, Barrick Gold, Wheaton Precious Metals and Franco-Nevada dropped between 9.8% and 12.7%, while silver-linked names such as Pan American Silver, Vizsla Silver and Lundin Gold also posted double-digit losses.

Technology stocks added to the pressure, with Shopify down 7.7% and Celestica sliding 5.3%, tracking weakness in US megacap tech and deteriorating risk appetite.

Financials offered limited support, with Canada’s major banks broadly lower amid concerns over fragile domestic momentum after Canada’s GDP data showing flat output in November.



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