CANADA STOCKS-TSX futures rise as commodities extend rally

Jan 14 (Reuters) - Futures tracking Canada's resources-heavy stock index edged higher on Wednesday, as gold and silver prices rose to fresh peaks amid simmering geopolitical tensions and concerns over the U.S. Federal Reserve's autonomy.

March futures on Toronto's S&P/TSX Composite index SXFcv1 were up 0.14% as of 6:11 a.m. ET.

The benchmark .GSPTSE closed slightly lower on Tuesday, pulling back from record highs, as weakness in financial and industrial stocks outweighed gains in mining-linked shares.

On Wednesday, spot gold XAU= rose 1% to a fresh peak of $4,634.87 per ounce, while silver XAG= gained 4%, crossing the $90 mark for the first time. GOL/

Escalating unrest in Iran and the Trump administration's probe into Fed Chair Jerome Powell continued to fuel safe-haven demand, while softer U.S. inflation readings gave added support by boosting rate-cut bets. Lower interest rates usually favor non-yielding bullion.

Oil prices gained for the fifth day, as resumption of crude exports from Venezuela did little to ease worries about supply disruptions in Iran. Both Brent crude futures LCOc1 and U.S. West Texas Intermediate crude CLc1 rose more than 1% each. O/R

Also in focus is Canadian Prime Minister Mark Carney's visit to China on Wednesday, as the North American nation seeks to diversify trade away from the U.S.

U.S. President Donald Trump said on Tuesday that while the U.S.-Mexico-Canada trade agreement was irrelevant for his country, "Canada would love it. Canada wants it. They need it." The agreement is up for review this year.

Telecommunications company Cogeco Communications CCA.TO and industrial manufacturer Velan VLN.TO are scheduled to announce their quarterly results later in the day.

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