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TSX gains 0.5% to post new record high

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Materials sector adds 2.1%

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BlackBerry shares climb 7.4%

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Tilray Brands tumbles 20.3%

(Updates at market close)

By Fergal Smith

April 9 (Reuters) - Canada's main stock index rose to a

record high on Tuesday as higher gold prices bolstered the

shares of metal mining companies and investors awaited a key

U.S. inflation report as well as a Bank of Canada interest rate

decision this week.

The Toronto Stock Exchange's S&P/TSX composite index

ended up 101.48 points, or 0.5%, at 22,361.78,

eclipsing the previous all-time record closing high that was set

on Friday.

"You had a nice rally in all things that matter to Canada,"

said Matt Skipp, president of SW8 Asset Management.

"You've had oil prices move considerably higher ... you've

got precious and base metals rallying on the thought that even

if inflation is somewhat higher, (interest) rates are still

headed down."

The materials sector rose 2.1% as gold notched a record high

ahead of U.S. inflation data on Wednesday that could offer clues

on the timeline for expected Federal Reserve interest rate cuts.

The sector includes metal miners and fertilizer companies.

Investors expect the Bank of Canada to leave its benchmark

interest rate on hold at a 22-year high of 5% on Wednesday but

to then begin an easing campaign in June.

The price of oil settled 1.4% lower at $85.23 a barrel,

crimping gains for energy. The sector ended 0.4% higher.

Still, oil remained within reach of the six-month high it

posted on Friday. Some analysts are concerned that higher oil

prices could revive inflation pressures.

"If we start to get an uptick in inflation, I think the

rally (in stocks) loses steam," Skipp said. "We are getting

close to an inflection point."

BlackBerry Ltd ( BB ) shares advanced 7.4% after the

software firm announced a collaboration with AMD to develop

robotic systems.

In contrast, shares of Tilray Brands Inc tumbled

20.3% after the company's results missed estimates.