By Fergal Smith

(Reuters) -Canada’s main stock index rose on Friday as higher commodity prices boosted resource shares and investors weighed the potential for recent financial market volatility brought on by a global trade war to subside.

Toronto Stock Exchange’s S&P/TSX Composite Index ended up 572.93 points, or 2.5%, at 23,587.80. For the week, the TSX was up 1.7% after some wild swings, which included a near eight-month low on Tuesday.

Wall Street also notched gains on Friday as big banks kicked off first-quarter earnings season.

"It’s a positive outcome to what has been a very chaotic week as far as announcements go, but I think investors will take the positives wherever they can get them," said Philip Petursson, chief investment strategist at IG Wealth Management.

"I am reluctant to say that the volatility is over, but I think that the worst of the volatility is likely behind us."

The materials group, which includes fertilizer companies and metal mining shares, rose 4.8% as copper prices jumped and gold climbed above $3,200 per ounce for the first time.

The precious metal has benefited from safe-haven demand as well as recent sharp declines for the U.S. dollar.

The Canadian dollar strengthened to a five-month high against its U.S. counterpart as the erratic nature of U.S. trade policy weighed on the greenback and ahead of a potential pause in the Bank of Canada’s interest rate-cutting campaign at a policy decision on Wednesday.

The price of oil also rose, settling 2.4% higher at $61.50 a barrel. Energy added 3.3% and heavily weighted financials ended 2% higher.

All 10 major sectors notched advances, but the gain for real estate was marginal as the recent rout in the U.S. bond market helped drive up Canada’s long-term borrowing costs.

The Canadian 10-year yield touched a 2-1/2-month high at 3.309%.