Miners boost TSX as choppy week ends

August 21 (Reuters) – Canada’s main stock index rose on Friday, led ‌by mining stocks as gold rallied, while investors weighed lingering strains in global bond markets and a diplomatic deadlock in the Middle East.The S&P/TSX Composite Index (.GSPTSE), gained 0.6% to 36,601.49 ​points by 10:19 a.m. ET. Still, the index was on ​track for a 0.3% weekly loss.The materials sector (.GSPTTMT), led the gains ⁠with a 2.7% rise, hitting over a five-month high as gold prices ​rallied against a dollar weakened by the U.S. Treasury’s bond buyback move.Lithium ​Americas (LAC.TO), Ivanhoe Mines (IVN.TO), and Lundin Mining (LUN.TO), advanced more than 6% each.Heavyweight financial stocks (.SPTTFS), also climbed, ahead of bank earnings next week.U.S. Treasury yields resumed their climb after Wednesday’s ​surprise Treasury intervention delivered barely a day’s relief from selling tied to inflation ​and fiscal concerns.”The underlying issue has never been dealt with, which is high debt. ‌And ⁠until someone actually deals with that, yields will continue to rise. Treasury Secretary buying back or buying more bonds, it’s just a temporary fix,” said Allan Small, senior investment adviser of the Allan Small Financial Group ​with iA Private Wealth.Canadian ​retail sales ⁠data rose 0.6% in June, beating expectations, helped by higher sales at clothing and general merchandise stores.Money markets expect the ​Bank of Canada to keep interest rates unchanged at ​its ⁠next meeting, while pricing in a nearly 47% chance of a rate hike in December, LSEG data showed.On the trade front, Canadian and U.S. negotiators will ⁠meet for ​a third day in Washington on Friday, ​in a bid to seal a trade deal ahead of new American tariffs set to ​kick in on Saturday.Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Shreya Biswas