Jan 13 (Reuters) - Futures tracking Canada's resources-heavy stock index were muted on Tuesday, as gold prices eased from a record high in the previous session and investors awaited key U.S. inflation data for clues on the monetary policy path.
March futures on Toronto's S&P/TSX Composite index were up 0.02% as of 6:39 a.m. E.T.
The benchmark closed at a fresh peak for the second straight session on Monday, lifted by mining stocks, as a Trump administration probe into U.S. Federal Reserve Chair Jerome Powell sparked concerns over the central bank's independence and boosted demand for precious metals.
Geopolitical developments have shaped much of the index's early-year performance. While civil unrest in Iran and turmoil in Venezuela have buoyed precious metal prices and mining-related shares, energy stocks have been mixed as traders weigh potential oil supply disruptions.
Spot gold declined 0.2% on Tuesday, while silver extended gains, up 0.8%. [GOL/]
Brent crude futures rose 1.7% and U.S. West Texas Intermediate crude gained 1.8%, as major supplier Iran witnessed its biggest anti-government protests in years. [O/R]
Canada is also seeking to diversify trade away from its main market, the U.S., due to uncertain trade policies. Prime Minister Mark Carney is expected to arrive in China on Tuesday, the first visit by a Canadian leader to the Asian nation since 2017.
Meanwhile, investors keenly awaited U.S. inflation data due later in the day for more clarity on the Fed's interest-rate path this year. The U.S. central bank is widely expected to keep rates on hold later this month.
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(Reporting by Utkarsh Tushar Hathi in Bengaluru; Editing by Jonathan Ananda)
