04:15 PM EDT, 08/12/2025 (MT Newswires) -- The Toronto Stock Exchange was up for a second-straight day Tuesday, and with a late flurry of buying managed to eke out a fresh record close by just about the narrowest of margins, amid some signs that market confidence around the outlook for the Canadian economy is being matched in investor circles.

Even with commodity prices lower, the resources heavy S&P/TSX Composite Index was is up 146.03 points, or 0.5%, at 27,921.26, topping the prior record of 27,920.87 set on August 6. Most were sectors higher, led by Base Metals and Health Care, both up about 2%.

On signs of confidence around the Canadian economy, RBC Assistant Chief Economist Robert Hogue noted the first half of the year was marred with challenges for Canada's housing market. That made RBC rethink its forecasts and the bank is now projecting that Canadian home resales will decline by 3.5% in 2025 from last year. RBC noted the trade war derailed an early recovery in home demand. But the bank is expecting that to get back on track in the second half of the year, setting up stronger demand in 2026. However, the bank added, it will take longer for home prices to pick up in some regions.

Of commodities, gold futures edged lower late afternoon Tuesday even as the dollar and treasury yields fell after a report showed U.S. inflation was steady last month, keeping expectations for a coming cut to U.S. interest rates in place. Gold for December delivery was last seen down $6.10 to US$3,398.60 an ounce.

Also, West Texas Intermediate crude oil fell to the lowest in more than two months on Tuesday after the Energy Information Administration slashed its price forecast amid rising supplies. WTI crude oil for September delivery closed down $0.79 to settle at US$63.17 per barrel, the lowest since May 30, while October Brent crude was last seen down $0.53 to US$66.10.