CANADA STOCKS-TSX futures steady as investors take a pause after strong commodities-led rally

Jan 23 (Reuters) - Futures linked to Canada's main stock index were largely steady on Friday, as investors took a breather following strong mining-led gains in the previous session, while oil prices climbed on renewed fears of potential U.S. military action against Iran.

March futures on Toronto's S&P/TSX Composite Index SXFcv1 were up 0.05% as of 5:50 a.m. ET.

Toronto's benchmark stock index .GSPTSE notched its biggest rise in 10 days on Thursday, after a jump in gold prices lifted mining shares and Wall Street indexes advanced on upbeat U.S. economic data and the easing of Greenland-linked risks.

But diminishing confidence in American assets due to geopolitical uncertainty continued to power precious metal prices, despite fears of a transatlantic trade war receding after U.S. President Donald Trump softened his stance on Greenland and said he had secured a deal with NATO for total and permanent U.S. access to the island.

On Friday, spot gold XAU= reached a fresh peak early in the day before easing 0.2%, while silver XAG= gained 2.4%.

Oil prices advanced after Trump said that the U.S. had an "armada" heading toward major crude supplier Iran, renewing fears of supply disruptions. Brent crude futures LCOc1 and U.S. West Texas Intermediate crude CLc1 were up about 1.4% each.

Investors will also look at preliminary January U.S. purchasing managers' index data, due on Friday morning, for clues on the health of the American economy.

In corporate news, Aris Mining ARIS.TO named Neil Woodyer as chief executive officer after markets closed on Thursday, while Capstone Copper's Australia-listed shares CSC.AX CS.TO dropped 3.4% on Friday after a workers' strike forced a production halt in its mine in Mantoverde, Chile.

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