(fxcue news) - Canadian shares are up in positive territory Tuesday morning, extending gains to a tenth straight session, amid easing concerns about tariffs, and some brisk buying in gold stocks on safe-haven appeal following Moody's downgrading U.S. credit rating, citing debt concerns. Investors are also digesting a report showing a drop in Canada's annual inflation rate. The benchmark S&P/TSX Composite Index, which climbed to a record high of 26,117.13 earlier this morning, was up 105.50 points or 0.41% at 26,077.43 a little while ago. The Materials Capped Index is up nearly 3%. The Consumer Staples Capped Index is up 1.2%, while the Utilities and Communications Services indices are up nearly 1% each. Data from Statistics Canada said the annual inflation rate in Canada fell to 1.7% in April from 2.3% in the previous month, slightly above market expectations of 1.6%. The reading marked the softest increase in consumer prices in seven months. The CPI in Canada decreased 0.1% month-over-month in April, the first fall in four months, compared to a 0.3% rise in March and forecasts of a 0.2% drop. The annual core inflation rate in Canada rose to 2.5% in April from 2.2% in the prior month. On a monthly basis, core consumer prices rose by 0.5% in April, accelerating from a 0.1% increase in the prior month. Meanwhile, the Bank of Canada's trimmed-mean core CPI unexpectedly accelerated to 3.1%, its highest in thirteen months, indicating price pressures and diminishing possibilities of near-term rate cuts. New Gold Inc. is rising more than 7.5% and G Mining Ventures Corp is gaining about 7.4%. Calibre Mining, B2Gold Corp, Equinox Gold Corp, Eldorado Gold, Lundin Gold, Seabridge Gold, Oceana Gold, Torex Gold Resources, Barrick Gold Corp, Agnico Eagle Mines and Wheaton Precious Metals are gaining 4 to 6.5%. Jamieson Wellness, The North West Company, Metro Inc., Premium Brands Holdings Corp, Loblaw, Saputo and George Weston are the major gainers in the consumer staples sector.