Oct 21 (Reuters) - Futures tied to Canada's main stock

index were flat on Monday, following last week's rally, as

investors awaited the Bank of Canada's interest rate cut

decision later in the week.

December futures on the S&P/TSX index were up 0.01%

at 6:01 a.m. ET (10:01 GMT).

The composite index notched on Friday its third

straight day of record closing highs, boosted by mining shares,

and also added 1.4% for the week.

The Bank of Canada's monetary policy decision is due on

Wednesday, with expectations of a 50-basis-point rate cut, which

would be the first significant reduction in 15 years outside of

the pandemic era.

Traders are widely anticipating an oversized rate cut by the

BoC, whose odds jumped after last week's cooler-than-expected

inflation data.

Meanwhile, global markets stepped closer to the U.S.

presidential elections on Nov. 5, with higher odds for

Republican candidate Donald Trump's victory.

The November elections could influence Toronto markets, as

U.S. is Canada's biggest trading partner and the Toronto Stock

Exchange often mirrors Wall Street trends.

Canada's energy sector could benefit from higher oil prices

that jumped over 1%, following a more than 7% drop last week on

worries about demand in China.

The materials sector remained in focus as gold hit a record

high on U.S. election uncertainties, simmering Middle-East

tensions and rate cuts by major central banks, while silver

neared a 12-year peak.

In corporate news, Apollo Silver ( APGOF ) announced to

further increase the size of its private placement to 67.5

million shares at $0.20 per share.

COMMODITIES

Gold: $2,734.63; +0.5%

US crude: $70.39; +1.7%

Brent crude: $74.07; +1.4%

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($1 = 1.3816 Canadian dollars)