CANADA STOCKS-TSX rises as mining stocks advance

By Utkarsh Hathi

Feb 9 (Reuters) - Canada's main stock index rose on Monday, lifted by mining shares, as precious metal prices extended gains and helped the commodities-heavy benchmark climb for a second straight session.

The S&P/TSX Composite Index .GSPTSE was up 0.6% at 32,667 points as of 10:28 a.m. ET.

The index recorded its biggest daily jump in four months on Friday, as miners advanced following a recovery in precious metal prices supported by a softer U.S. dollar.

On Monday, spot gold XAU= rose 1.8% and silver XAG= climbed 5.5%, while copper prices also firmed. GOL/

TSX's gold index .SPTTGD gained 2.3%, while the materials index .GSPTTMT, which includes mining shares, added 2%.

Investors remain optimistic on long-term gold pricing despite recent volatility, said analysts.

"Volatility has become heightened, but we still have a pretty core position and think the path of least resistance for gold particularly is higher,” said Brian Madden, chief investment officer at First Avenue Investment Counsel.

Financials .SPTTFS, the heaviest-weighted sector on the index, advanced 0.5%.

Oil prices saw mild volatility as traders assessed pledges from the U.S. and Iran to continue talks following positive discussions in Oman on Friday and slowing Russian flows to Indian refiners. O/R

TSX's energy index .SPTTEN was up 0.1%.

Technology <.SPTTTK> shares, however, fell 0.6%, while industrials .GSPTTIN declined 0.3%.

Investors now await U.S. data on non-farm payrolls, inflation and initial jobless claims due later in the week for clues on future monetary policy, with markets pricing in at least two 25‑basis‑point interest rate cuts from the Federal Reserve in 2026. A slew of corporate results are also scheduled for this week.

Among notable movers, shares of Vizsla Silver VZLA.TO plunged 14% after the miner said that abducted workers from its project site in Concordia, Mexico have been found dead.