The Canadian Index

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Line chart comparing gold and WTI crude oil prices as they moved in opposite directions in early July 2026.

Gold fell even as Iran's declared ceasefire collapsed and its Revolutionary Guard struck more than eighty US installations in Bahrain and Kuwait, a divergence that points to what is actually driving the metal. Hours earlier, Federal Reserve minutes showed nine of eighteen officials penciling in a 2026 rate hike, up from zero in March, pushing the odds of a September hike back to sixty-six percent. Gold's decline confirms markets are pricing that rate signal over the safe-haven case the war headlines alone would suggest.

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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Bar chart showing Canadian energy stocks rising while financials, materials, and technology stocks fell on July 8, 2026.

The composite's decline masked a three-way split beneath it: energy gained on the same oil-driven sentiment lifting crude prices, while…

The Fed's Minutes and the Iran Escalation Landed on the Same Afternoon, and Gold Picked a Side

July 8, 2026

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Line chart tracking the S&P/TSX Composite through July's ceasefire collapse, near-record rally, and late-month pullback to a 35,226 close.

The S&P/TSX Composite closed July at 35,226, up 1.06% for the month, a modest headline figure that conceals sharp intra-month swings.

S&P/TSX Composite closes July up 1.06% after a volatile month

July 31, 2026

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Line chart comparing Brent and WTI crude oil prices through July's four-leg rally to $85.47.

Brent and WTI crude both surged in July, with WTI ending the month at $85.47, up 23.0%, after round-tripping from a five-month low near $68.74.

WTI and Brent crude surge in July as the Iran ceasefire collapses

July 31, 2026

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Line chart showing Brent crude climbing 5.1 percent over the week to 87.84 dollars a barrel as the Iran conflict and naval blockade escalated.

Brent crude rose 5.1% over the week to $87.84 a barrel as an escalating Iran conflict pushed oil back toward its earlier highs.

The TSX and Gold Both Set Records This Week. That Should Not Happen Together.

August 15, 2026

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Bar chart comparing six assets' weekly gains, showing energy markets rising roughly five times faster than equities or the Canadian dollar.

Six major assets all finished the week higher, but energy markets moved roughly five times faster than equities or the Canadian dollar.

The TSX and Gold Both Set Records This Week. That Should Not Happen Together.

August 15, 2026

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Line chart showing WTI crude oil jumping 16.4 percent since its July 6 low after the Hormuz blockade resumed.

WTI reversed three weeks of decline in just two trading sessions after the US reinstated its naval blockade of Iranian ports on July 13.

Two Central Banks Report to the Public This Morning, and They Are Reading the Same Oil Shock Differently

July 15, 2026

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