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TSX ends down 1.2% at 30,108.48

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For the week, the index adds 0.9%

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Materials group falls 6% as gold retreats from record high

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Consumer staples sector rises 1.6%

(Updates at market close)

By Fergal Smith

TORONTO, Oct 17 (Reuters) - Canada's main stock index

gave back much of its weekly gain on Friday as gold prices fell

and investors took profits in high-flying metal mining shares.

The S&P/TSX composite index ended down 350.32

points, or 1.2%, at 30,108.48. For the week, the index was up

0.9%.

"It's safe to say that most of the blame for this would be

on the pullback we had in precious metals," said Colin

Cieszynski, chief market strategist at SIA Wealth Management.

"We're seeing a case where people are taking money out of their

winners. And precious metals and mining stocks have been massive

winners."

The materials group, which includes fertilizer

companies and metal mining shares, fell 6%, its biggest decline

since April 4. The price of gold, a traditional hedge

against uncertainty, pulled back from a record high as fears

eased of an escalating trade war between the U.S. and China.

Gold was down 2.2%.

Heavily weighted financials dipped 0.2% and energy

was down 0.3%. The price of oil clawed back a

small part of its weekly decline, settling 0.1% higher at $57.54

a barrel.

Consumer staples was a bright spot, adding 1.6%,

with food processing company Canada Packers Inc ( CPKRF ) up

7.2%.

The interest rate-sensitive real estate sector rose 0.8% as

the Canadian 10-year yield touched its lowest level

since April 30 at 3.062%.

The Bank of Canada will be putting more emphasis on

potential risks when it decides what to do about interest rates

later this month even as it tries to be more forward-looking,

Governor Tiff Macklem said.