CANADA STOCKS-Gold mining shares help lift TSX to fresh record high

By Twesha Dikshit and Fergal Smith

Sept 22 (Reuters) - Canada's main stock index rose on Monday to another record high as gold prices climbed and investors welcomed a recent reduction in borrowing costs.

Toronto's S&P/TSX composite index .GSPTSE ended up 190.62 points, or 0.6%, at 29,958.98, eclipsing Friday's record closing high.

"One of the key factors continues to be the normalization of inflation and also interest rates," said Benjamin Jang, a portfolio manager at Nicola Wealth Management.

The Bank of Canada last Wednesday lowered its benchmark interest rate by 25 basis points to 2.50%, its first cut since March, saying it was less concerned about underlying inflation pressures.

The materials group .GSPTTMT, which includes fertilizer companies and metal mining shares, climbed 2.4% as the price of gold XAU= jumped to a new all-time high.

Barrick Mining ABX.TO added to the sharp gains it notched on Friday. Its shares were up 7.4%.

Energy .SPTTEN advanced 1.4% and heavily weighted financials .SPTTFS ended 0.4% higher.

Shares of Bombardier BBDb.TO rose to the highest level since September 2008, with a gain of 7.8%, as one of the company's divisions announced an aircraft delivery to the U.S. Air Force.

Among the sectors that lost ground was consumer staples .GSPTTCS. It ended 1.8% lower.