Jan 16 (Reuters) - Futures for Canada's main stock index

inched up on Thursday, tracking Wall Street counterparts, as

higher gold prices propped up the metal mining sector.

March futures on the S&P/TSX index were up 0.1% at

6.40 a.m. ET (1140 GMT).

U.S. stock index futures also ticked up on Thursday, aided

by strong quarterly results from Bank of America ( BAC ), while

investors awaited economic data that could offer insights into

the health of the world's largest economy.

Gold prices rose to a near one-month high and copper prices

hit a five-week peak, supported by a pause in dollar's rally.

Renewed hopes of Chinese economic stimulus also boosted copper

prices.

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

ended 0.8% higher on Wednesday, its biggest gain since

Nov. 21, as hopeful signs that U.S. inflation would cool boosted

the chances of further interest rate cuts by the Federal Reserve

and the Bank of Canada.

If the interest rate differential between the U.S. and

Canada narrows, the Bank of Canada has more flexibility to lower

its rates without causing excessive depreciation of the Canadian

dollar.

In December, the Canadian central bank cut rates by 50 basis

points to 3.25% and signaled that further easing would be

gradual. Markets predict a 67% chance of a 25-basis-point cut

this month.

Canada could impose countermeasures on up to C$150 billion

($105 billion) worth of U.S. imports if President-elect Donald

Trump puts tariffs on Canadian goods and services, a source

familiar with the matter told Reuters on Wednesday. Trump had

proposed a 25% tariff to push Canada to tighten border security.

In corporate news, Orla Mining ( ORLA ) said it produced

26,531 ounces of gold in the fourth quarter, bringing annual

gold production for 2024 to 136,748 ounces.

($1 = 1.4375 Canadian dollars)