* TSX up 0.3%

* Oil and gold prices rise

* Barrick Mining ( B ) climbs after Q1 profit beat

(Updates prices and details throughout)

By Tharuniyaa Lakshmi

May 11 (Reuters) - Canada's main stock index rose to

near three-week highs on Monday as Barrick Mining ( B ) jumped after

stronger-than-expected results and other commodity-linked stocks

climbed while investors weighed the impact of the Middle East

conflict.

At 10:47 a.m. ET, the Toronto Stock Exchange's S&P/TSX

composite index was up 0.3% at 34,205.24 points - its

highest since April 21.

Materials, gold and energy stocks

gained as precious metals and oil prices rose.

President Donald Trump's swift rejection of Iran's response

to a U.S. peace proposal fueled concerns that the 10-week-old

conflict will drag on and keep shipping through the Strait of

Hormuz paralyzed, pushing up oil prices.

"The longer strikes continue without a peace agreement, the

more damaging it becomes for equities due to mounting

inflationary pressures," said Michael Dehal, senior portfolio

manager, Dehal Investment Partners at Raymond James.

The benchmark index was trading just below its March 2 peak,

as lingering geopolitical uncertainty and concerns about a

potential spike in inflation tempered gains.

The Bank of Canada kept its key interest rate unchanged last

month but Governor Tiff Macklem said if oil prices remained high

and started to push up inflation, it might have to respond with

consecutive rate hikes.

Traders expect at least one 25 basis point interest rate

hike by the end of 2026, according to LSEG, and see nearly 38%

chance of a second rate hike this year.

Barrick Mining ( B ) jumped 7.2% and was among the top

gainers of the TSX index after the miner beat estimates for

first-quarter profit helped by record gold prices.

Cronos ( CRON ) climbed 7.2% after the cannabis producer's

first-quarter net revenue soared 40%, helped by sales in Israel

and other countries, which do not carry excise taxes.

(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by

Joyjeet Das)