Canadian stocks climbed Tuesday, with the benchmark S&P/TSX Composite Index gaining 0.7% to 16,388.95. The advance was driven by a surge in gold prices, which reached their highest level in nearly a year, and a rally in technology hardware stocks. This positive momentum helped offset concerns over US President Donald Trump’s threat of imposing 50% tariffs on all Canadian exports.

Gold mining stocks saw significant gains, with Barrick Gold Corp. rising 3.5% and Kinross Gold Corp. up 4.2%. The technology sector also performed well, with Shopify Inc. climbing 2.8% and BlackBerry Ltd. adding 1.5%.

Meanwhile, the Canadian dollar strengthened against the US dollar, trading at 76.35 US cents. The oil price also saw a slight increase, with West Texas Intermediate crude futures up 0.5% to $57.50 a barrel. Despite the positive market performance, investors remain cautious about the potential impact of trade disputes on the global economy.