The Canadian Index

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Bar chart showing gold miners rising and Canadian bank shares falling on the TSX, led by a 2.8 percent gain for Franco-Nevada.

Canadian bank shares and gold-linked miners moved in opposite directions this week, with Franco-Nevada leading gainers at 2.8 percent as bullion traded near a two-month high, while Big Five bank shares declined alongside a renewed climb in Government of Canada bond yields. The split illustrates the availability heuristic: client conviction tends to follow whichever headline landed most recently, gold's safe-haven story or banks' rate sensitivity, rather than either sector's underlying fundamentals.

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 showing gold's spot price falling 1.9% to $4,365.97 during its late-August reversal.

Gold's spot price closed at $4,365.97 on September 1, down 1.9% and capping a round trip from an August 25 peak near $4,658.59.

Gold's Spot Price Pulls Back 1.9% After an Attention-Driven August Surge

September 2, 2026

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Line chart comparing indexed gold and Brent crude prices as the two assets diverge then reverse in early August 2026.

Gold rose 7.2% last week to a record close near $4,400 while Brent crude fell 7.3% as traders bet a Hormuz shipping deal was close.

Gold's Record Week Made the Story Feel Settled. Monday Already Disagrees.

August 10, 2026

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Chart showing AAII investor sentiment survey results, with bearish and bullish readings both above their historical averages.

Both bearish and bullish sentiment now sit above their long run averages, an unusual split that Amos Tversky and Daniel Kahneman's availability heuristic helps explain.

Investors Are More Bearish and More Bullish Than Usual, and Tuesday's TSX Move Shows Why

September 9, 2026

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Bar chart showing Franco-Nevada's quarterly earnings surprise turning negative 7.7 percent in the second quarter of 2026.

Franco-Nevada's second-quarter earnings landed 7.7% below the consensus estimate analysts had published in advance, even though the company…

Franco-Nevada Beat on Almost Everything. The Market Will Only Remember One Number.

August 12, 2026

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Line chart showing the spot price of gold falling 2.07 percent on July 24, 2026 as oil prices surged.

Gold's drop came even as Brent crude crossed $100 a barrel for the first time since May, after Houthi forces struck two Saudi oil tankers in the Red Sea.

Record High, Sharp Reversal: A Lesson in Loss Aversion

July 24, 2026

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Line chart comparing WTI crude oil and gold spot prices from June 22 to July 20, 2026.

WTI crude has climbed 2.1% to $83.48 as the conflict's confirmed U.S.

Oil Spiked Past $85 as the War's U.S. Death Toll Hit 17. It Gave Back Most of the Move by Noon.

July 20, 2026

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