Canadian markets bucked the global trend Friday as rising commodity prices lifted stocks. While major US and European indexes declined, Canadian equities advanced on surging gold and oil prices. Traders factored in prolonged Middle East tensions, particularly the potential for extended conflict involving Iran, which drove demand for safe-haven assets.

The gold and oil price surge created a rare divergence in North American markets. Investors sought refuge in safe-haven assets amid geopolitical concerns, benefiting resource-heavy Canadian markets. This performance contrasted sharply with the broader international market sentiment that reacted negatively to rising geopolitical risks and uncertainty.

Canadian stocks rallied as commodity exporters gained from higher prices. The market's resilience suggests investors view Canada as positioned to benefit from global instability. This divergence highlights how regional economic structures can create different market reactions to similar global catalysts, particularly for resource-based economies.