04:17 PM EDT, 08/18/2025 (MT Newswires) -- The Toronto Stock Exchange eked out a modest gain in the final minutes of Monday's session, for its first gain since posting a record close last Wednesday, amid mixed commodity prices and on a dearth of market moving catalysts.

The resources heavy S&P/TSX Composite Index came with a late run to close up 17.36 points at 27,922.85, staying under the record close of 27,993.43 struck on August 13. Reflecting the day in trading, most sectors were lower, led by Base Metals down 1.65% and Health Care down near 1.4%. No sector was up even near 1%.

Among individual stocks, shares in Air Canada ( ACDVF ) closed down $0.59 to $19.18, with over 4.3-million shares traded, as its chief executive said he hopes the airline will resume services tomorrow despite striking flight attendants defying a federal back-to-work order.

However before the close of trade, Air Canada ( ACDVF ) said all flights of Air Canada ( ACDVF ) and Air Canada Rouge remain suspended due to the Canadian Union of Public Employees (CUPE) "failing to direct its flight attendant members to resume the performance of their duties" as directed by the Canadian Industrial Relations Board (CIRB). The CIRB has also directed flight attendants to resume the performance of their duties immediately, it added.

Perhaps Wells Fargo caught the overall mood in equity markets across North America when it said today it expects stocks, albeit with a focus on U.S. ones, will follow the 'classic' post-election year cycle, "struggling to move meaningfully higher in the near term".

Wells Fargo was a bit more optimistic on real assets, at least longer term. It noted gold prices have "stalled out" after sharp early year gains, as "initial reasons for the rally have run out of steam, and there has been a lack of new catalysts. But it said: "We believe this consolidation is just a pause with the longer-term uptrend, and we continue to favour gold and precious metals," before adding, "investors should use pullbacks to add exposure."

With commodities today, gold prices edged lower late afternoon Monday, while the dollar rose as Ukraine President Volodymyr Zelensky and a group of European leaders headed to the White House following a Friday summit between the U.S and Russia that ended with President Donald Trump urging Ukraine to surrender territory to Russia in exchange for peace. Gold for December delivery was last seen down $4.50 to US$3,378.1, sticking to the tight range it has mostly traded within since late April.

But West Texas Intermediate crude oil rose ahead of the Washington meeting, while traders turn bearish on the commodity as a report showed the first-ever combined net short position in WTI oil contracts. WTI Crude oil for September delivery closed up $0.62 to settle at US$63.42 per barrel, while October Brent crude was last seen up $0.71 to US$66.56.