Jan 30 (Reuters) - Futures linked to Canada's main stock index fell on Friday, as gold sank on expectations that U.S. President Donald Trump would nominate a more hawkish Federal Reserve Chair and oil retreated on easing supply disruption concerns in Iran.
March futures on Toronto's S&P/TSX Composite Index were down 1.01% as of 5:50 a.m. ET.
While Toronto's benchmark stock index (.GSPTSE), closed lower on Thursday after a pullback in precious metal prices, it remained on track for robust monthly gains of about 4.1%.
Spot gold slid 6%, briefly slipping below the $5,000 mark, as the U.S. dollar strengthened on the imminent appointment of a new Fed Chair, though the safe-haven metal was still on pace for its biggest monthly gain since 1999.
Speculation that the next Fed Chair would be more hawkish than current Chair Jerome Powell intensified after Trump's meeting with former Fed Governor Kevin Warsh at the White House on Thursday. Warsh has been critical of Fed policy under Powell and said earlier that the central bank needs a "regime change".
Oil prices fell, though still on track for a large monthly gain, after signs that the U.S. may engage in dialogue with Iran over its nuclear program, easing fears of supply disruptions. Brent crude futures and U.S. West Texas Intermediate crude were down 1.2% and 0.9%, respectively.
Meanwhile, Trump, in a post on social media, threatened the decertification of Bombardier Global Express business jets and 50% import tariffs on all aircraft made in Canada, until the country's regulator certified a number of planes produced by the Canadian jet maker's U.S. rival Gulfstream.
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Reporting by Utkarsh Tushar Hathi in Bengaluru; Editing by Jonathan Ananda
