Dec 20 (Reuters) - Canada's main stock index ticked higher on Tuesday, boosted by shares of miners and energy firms as crude and precious metal prices rose against a softer dollar.

At 10:30 a.m. ET (15:30 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 104.87 points, or 0.55%, at 19,305.63, though hovering close to a near seven-week low hit on Monday.

Gold prices jumped 1% as the dollar dropped after the Bank of Japan's surprise policy tweak. Oil prices also rose, though uncertainty over demand from top consumer China kept gains in check.

The materials sector rose 2.2% to lead gains on the TSX and was set for its biggest single-day jump in about three weeks.

Energy shares rose 1.0%.

Data showed Canada's October retail sales gained the most in five months, though it was a notch lower than the 1.5% rise forecast by analysts.

"Things are slowing," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth, referring to the hit to economic growth from higher interest rates.

"The question is, are they slowing fast enough and are they slowing enough for the Bank of Canada to pause or slow down these interest rate hikes."

Heavyweight financials also added to gains, rising 0.6%.

The benchmark Canadian index has outperformed the U.S. S&P 500 index so far this year, losing 9% versus a 19.8% drop in the U.S. benchmark.

Among single stocks, IAMGOLD Corp scaled to the top of the index, gaining 25.4% after the miner sold its assets in Senegal, Mali and Guinea for a total $282 million to Moroccan mining company Managem. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Maju Samuel and Shailesh Kuber)