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CANADA STOCKS-TSX futures rise on higher commodity prices, GDP on tap

Oct 31 (Reuters) - Futures for Canada's main stock index moved upwards on Tuesday as a rise in prices of gold and oil is expected to boost the commodity-heavy index, while investors awaited domestic GDP figures for August, due later in the day.

December futures on the S&P/TSX index were up 0.4% at 7:01 a.m. ET (1101 GMT).

Canada's GDP for August, due at 08:30 a.m. ET, is expected to rise by 0.1%, according to a Reuters poll of economists.

The U.S. Federal Reserve is also set to kick off a two-day monetary policy meeting on Tuesday, at the end of which it is widely expected to hold interest rates steady, according to the CME Group's Fedwatch tool.

Energy stocks are likely to get a boost from a recovery in oil prices after a 3% fall in the previous session.

The heavyweight material sector is also expected to gain on higher gold prices, however, the recent decline in prices of copper could limit or offset gains.

U.S. stock index futures were mixed on Tuesday in the run-up to the central bank's monetary policy meeting.

The Toronto Stock Exchange's S&P/TSX composite index ended Monday up 119.37 points, or 0.6%, at 18,856.76, helped by gains in financial and technology shares.

COMMODITIES AT 7:01 a.m. ET

Gold futures: $2,008.1; +0.1%

US crude: $83.14; +1.0%

Brent crude: $88.41; +1.1%

(Reporting by Khushi Singh in Bengaluru; Editing by Tasim Zahid)

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