(Reuters) - Futures for Canada's main stock index inched up on Thursday, tracking Wall Street counterparts, as higher gold prices propped up the metal mining sector.

March futures on the S&P/TSX index were up 0.1% at 6.40 a.m. ET (1140 GMT).

U.S. stock index futures also ticked up on Thursday, aided by strong quarterly results from Bank of America, while investors awaited economic data that could offer insights into the health of the world's largest economy. [.N]

Gold prices rose to a near one-month high and copper prices hit a five-week peak, supported by a pause in dollar's rally. Renewed hopes of Chinese economic stimulus also boosted copper prices. [GOL/][MET/L]

The Toronto Stock Exchange's S&P/TSX composite index ended 0.8% higher on Wednesday, its biggest gain since Nov. 21, as hopeful signs that U.S. inflation would cool boosted the chances of further interest rate cuts by the Federal Reserve and the Bank of Canada.

If the interest rate differential between the U.S. and Canada narrows, the Bank of Canada has more flexibility to lower its rates without causing excessive depreciation of the Canadian dollar.

In December, the Canadian central bank cut rates by 50 basis points to 3.25% and signaled that further easing would be gradual. Markets predict a 67% chance of a 25-basis-point cut this month.

Canada could impose countermeasures on up to C$150 billion ($105 billion) worth of U.S. imports if President-elect Donald Trump puts tariffs on Canadian goods and services, a source familiar with the matter told Reuters on Wednesday. Trump had proposed a 25% tariff to push Canada to tighten border security.

In corporate news, Orla Mining said it produced 26,531 ounces of gold in the fourth quarter, bringing annual gold production for 2024 to 136,748 ounces. ($1 = 1.4375 Canadian dollars)

(Reporting by Ragini Mathur in Bengaluru; Editing by Sahal Muhammed)