* TSX falls 1.2% in broader declines

* Miners pressured by fall in silver, gold prices

* Canada retail sales rise 1.1% in January

(Updates after markets open)

By Rashika Singh

March 20 (Reuters) - Canada's main stock index fell on

Friday amid broad declines across sectors and was on track for a

third straight weekly loss, as the escalating conflict in the

Middle East showed no signs of cooling.

At 11:06 a.m. ET, the Toronto Stock Exchange's S&P/TSX

composite index was down 1.2% at 31,476.37.

Three U.S. officials told Reuters that Washington was

planning to deploy thousands of additional troops to the Middle

East, shortly after Axios reported that the administration was

considering occupying or blockading Iran's Kharg Island.

All major sectors on the TSX were in negative territory,

with materials leading losses, down 2.9%, as spot

silver and gold tumbled. Stocks of miners Endeavor

Silver and Lundin Gold ( LUGDF ) declined more than 4%

each.

Energy stocks fell 1.6%, tracking a dip in oil

prices, amid renewed efforts by the U.S. to ease supply

disruptions. Major European nations, Japan and Canada issued a

joint statement backing efforts to secure safe passage for

vessels through the Strait of Hormuz.

"We're getting closer to the Strait reopening as countries

like Japan and Britain step in; once flows normalize, markets

should bounce significantly from the last 5-6% downturn," said

Allan Small, senior investment advisor at Allan Small Financial

Group with iA Private Wealth.

In a week packed with central bank meetings, most

policymakers, including at the Bank of Canada, kept interest

rates on hold, but stressed their readiness to hike rates if

inflation pressures persisted.

The war-driven jump in crude prices has fueled inflation

concerns and Canada's resource-heavy index is especially

sensitive to oil-price swings because the commodity is among the

country's top exports.

The TSX closed at its lowest level since January 30 in the

previous session, extending its total decline since the Iran war

began to more than 7%.

On the data front, Canada's retail sales rose in January to

C$69.65 billion ($50.81 billion), up 1.1% from the previous

month, driven by stronger sales at motor vehicles and parts

dealers, Statistics Canada said on Friday.