The TSX Composite closed Friday at 36,553.92, down 0.76% and a third straight decline from the August 25 record, as gold-linked miners fell on a hawkish Fed speech and energy names slipped on a since-reversed Hormuz de-escalation read. That energy read flipped over the weekend when the U.S. and Iran exchanged strikes near the strait, a direct reversal of Friday's pressure on Canadian Natural, Suncor and Imperial Oil. Gold's setup is less clean, still absorbing Friday's rate-driven drop rather than finding a fresh safe-haven bid ahead of the Bank of Canada's Wednesday decision.
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