CANADA STOCKS-TSX extends record run as gold rises on Fed autonomy concerns

(Updates with market open prices, analyst comment)

By Utkarsh Hathi

Jan 12 (Reuters) - Canada's main stock index rose to a fresh high on Monday, lifted largely by gold miners, as a Trump administration probe into Federal Reserve Chair Jerome Powell raised concerns ?over the central bank's independence and fueled safe-haven demand for precious metals.

The S&P/TSX Composite ?index was up 0.6% at 32,810.44 points as of 10:48 a.m. ?ET, touching a record high for a second straight ?session.

Powell said on ?Sunday that U.S. President Donald Trump's administration had threatened to indict him over his ?comments to Congress about a building renovation ?project. "Political instability is manifesting itself through higher precious metal prices," said Josh Sheluk, portfolio manager at Verecan Capital Management. "If ?you have continued political instability, then ?you could ?see precious metal prices do well and that would probably be a positive thing for the TSX relative to other markets."

Gold ?miners rose 3.9% and the broader materials sector gained 3.1% as gold and silver prices reached fresh peaks.

Unrest in Iran, evolving U.S.-Venezuela relations and Trump's renewed interest in acquiring Greenland added to the demand for safe-haven assets.

Oil prices were largely flat after a sharp ?rise ?on Friday as concerns over supply disruptions in Iran faded after Foreign Minister Abbas Araghchi said the situation was under ?control.

TSX's energy sub-index gained 0.3%, recovering slightly from a more than 2% decline last week. Brent crude futures were up 0.3%, while U.S. West Texas Intermediate crude rose 0.1%.

Canadian domestic jobs data released on Friday sent mixed signals, doing little to alter bets around the Bank of Canada's monetary policy path. ?Traders still expect interest rates to remain unchanged at 2.25% through 2026.

Investors will look for further cues from domestic housing data later this week and Prime Minister Mark ?Carney's visit to China. (Reporting by Utkarsh Tushar Hathi; Editing by Jonathan Ananda)