04:24 PM EDT, 10/16/2025 (MT Newswires) -- The Toronto Stock Exchange on Thursday fell off from a day-prior record close amid some profit taking and as Bank of Canada Governor, Tiff Macklem, flagged "soft" economic growth over the second half of the year.

With commodity prices mixed, the resources-heavy S&P/TSX Composite Index finished the session down 178.32 points, or 0.6%, to 30,458.80. Among sectors, Base Metals and Energy were the biggest decliners, both down near 2%. The Battery Metals Index was up 1.9% and Telecom up near 1%.

With Canada's economy already having shrunk 1.6% annualized in the second quarter, Macklem, during an event in Washington, DC, said: "We do expect growth in the second half of the year, but with weakness in business investment and exports and uncertainty about jobs, growth will likely be soft." Macklem later indicated in the webcast event that growth would come in at a modest near 1%.

Of commodities, gold continued to push to fresh record highs Thursday, rising for a fifth session on hopes for falling interest rates amid a slowing global economy, and momentum buying. Gold for December delivery was last seen up $131.10 to US$4,332.70 per ounce, rising off Wednesday's record.

But West Texas Intermediate crude oil closed at the lowest in more than five-months, falling for a third day despite reports Indian Prime Minister Narendra Modi promised U.S. President Donald Trump his nation will stop importing Russian oil. WTI crude oil for November delivery closed down $0.81 per barrel to settle at $57.46 per barrel, the lowest since May 5, while December Brent crude was last seen down $0.73 to $61.18.