The Toronto market is more focused on the rise of gold

June futures on the S&P/TSX index were up 0.2% at 6:43 a.m. ET (10:43 GMT), reflecting gains by their Wall Street peers. (.N)

Toronto's S&P/TSX composite index fell 0.95% on Friday, its biggest drop since February, as investors weighed recent gains and the risk of a wider conflict in the Middle East. (.TO)

The index fell 1.6% for the week, snapping an eight-week winning streak after higher-than-expected inflation data put a chill on hopes that the Federal Reserve will start cutting interest rates early in June.

Gold prices were near record highs on Monday as traders tracked events surrounding the Middle East conflict, prompting them to buy safe-haven assets, while copper rose. (GOL/) (MET/L)

Oil prices, meanwhile, fell about 1% as the market downplayed fears of a regional conflagration following Iran's attack on Israel. (O/R)

On the data front, the March reading of US retail sales due at 8:30 a.m. ET could provide some insight into the state of consumer spending in the economy.

Across the border, major banks kicked off another earnings season on Friday. Goldman Sachs and brokerage Charles Schwab are due to report quarterly earnings before the call on Monday.

In Canadian corporate news, proxy advisory firms ISS and Glass Lewis recommended that investors in Rogers Communications of Canada vote against the reappointment of Edward Rogers because of the company's lack of women on its board, Bloomberg News reported Friday.

GOODS 6:43 ET

Gold futures: $2,354; -0.3% (GOL/)

US crude: $84.9; -0.9% (O/R)

Brent oil: $89.74; -0.8% (O/R)

(Reporting by Purvi Agarwal in Bangalore; Editing by Ravi Prakash Kumar)