The Canadian Index

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Bar chart showing same-day percentage moves across six financial assets, including oil, gold, and the VIX, on July 28, 2026.

Energy and precious metals fell together Tuesday, but for different reasons rather than a single shared cause. A measure of expected US stock market volatility rose at the same time, reflecting investor positioning ahead of Wednesday's Federal Reserve decision rather than any one event connecting all six assets shown. The divergence in causes, even as several assets moved the same direction, is the point: a single day's cross-asset move can mask several unrelated stories happening at once.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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Line chart of WTI crude oil prices from June 25 to July 28, 2026, marked with key escalation and diplomacy events.

Oil has retraced roughly half of its rally from a pre-escalation low to last week's peak, a retreat driven by genuine diplomatic progress rather than fading headlines.

Oil Erases Half Its War Premium as Real Diplomacy Takes Hold

July 28, 2026

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Line chart of Brent crude, the S&P/TSX Composite and gold futures rebased to 100 at the August 31 close.

Brent was the only one of the three to finish above its starting level, while the index and gold both fell.

Brent, TSX and Gold Rebased to the August 31 Close

September 30, 2026

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Line chart of Government of Canada 2-year, 5-year and 10-year benchmark yields, August 31 to September 29, 2026.

The Bank of Canada held its policy rate at 2.25% for a seventh straight time, yet Canadian yields rose as United States yields surged.

Government of Canada Benchmark Yields, September 2026

September 30, 2026

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Line chart of the S&P/TSX Composite daily close for September 2026, with a shaded slide and a dashed line at the August 25 record.

The index fell for the month even though Brent crude gained and the Strait of Hormuz stayed shut, because rising United States bond yields outweighed oil and gold.

S&P/TSX Composite Daily Close Through September 2026

September 30, 2026

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Line chart of Government of Canada 2-year, 5-year and 10-year benchmark yields through August 2026, with a shaded span at the August 21 peak.

Canadian yields drifted higher through August even though the Bank of Canada held its policy rate at 2.25% and had no decision to make during the month.

Government of Canada Benchmark Yields, August 2026

August 31, 2026

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Line chart of gold futures, the S&P/TSX Composite and Brent crude, each rebased to 100 at the July 31 close.

Gold rallied and gold miner shares carried the TSX higher, while Brent ended the month close to where it began.

Gold, TSX and Brent Rebased to the July 31 Close

August 31, 2026

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