Sept 23 (Reuters) - Futures for Canada's resources-heavy main stock index dipped on Wednesday as prices of precious metals including gold and silver slipped, with investor focus on any developments around prospects of a Middle East peace deal.
December futures on the S&P/TSX index were down 0.2% at 2,127.3 points by 5:59 a.m. ET (0959 GMT). Wall Street futures were mostly flat.
Spot gold prices fell close to 1%, pressured by a stronger dollar as investors weighed chances of future US Federal Reserve interest rate hikes following hawkish commentary from central bank officials.
Silver prices also dropped more than 2%, on pace for its biggest one-day drop since the start of the month.
Oil prices hovered near a more than two-week low, pressured by improved crude supply prospects from the Gulf and growing hopes for a diplomatic resolution to the US-Israel conflict with Iran.
US President Donald Trump said talks with Iran in New York had made progress, but then threatened to "annihilate" the country if a deal was not reached.
Commodity prices remain vital for Canada's main stock index as energy and mining-related companies make up more than 36% of the benchmark in terms of market capitalization, according to data compiled by LSEG.
The benchmark TSX (.GSPTSE), closed at its highest level in over two weeks on Tuesday, boosted by gains in technology (.SPTTTK), and mining-linked companies (.GSPTTMT).
Retail sales data due later this week will be closely watched for insights into the health of the Canadian consumer.
Among single stocks, brokerage CIBC downgraded its rating on silver miner Endeavour Silver (EDR.TO), to "neutral" from "outperformer".
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Reporting by Darshan Kumar in Bengaluru; Editing by Shailesh Kuber
