(Reuters) - Futures for Canada's main stock index jumped on Monday, boosted by record-high metal prices, while investors awaited the release of consumer price index data for fresh insights into the Bank of Canada's rate-cut timeline.

June futures on the S&P/TSX index were up 0.7% at 6:34 a.m. ET (10:34 GMT).

The materials index is expected to soar at open, as copper and gold prices scored record highs and silver surged over $30 to a more than 11-year high.

Copper prices have surged as a recent rally triggered by short position covering created momentum for speculators and funds to bet on higher prices of the metal.

Meanwhile, gold prices climbed as recent economic data boosted bets for interest rate cuts by the U.S. Federal Reserve, while silver followed suit.

On the data front, investors would gauge figures on Canada's April inflation data, scheduled for release on Tuesday.

Currently, the BoC is anticipated to begin interest rate cuts as early as June or July, compared to the U.S. Federal Reserve's first cut expected in September.

The U.S. business activity data for the month of May is also due later in the week.

The Toronto Stock Exchange's S&P/TSX composite index ended up 165.54 points, or 0.74%, at 22,465.37 on Friday, powered by surging commodity prices.

Dow e-minis were up 21 points, or 0.05%, at 6:34 a.m. ET, while S&P 500 e-minis were up 5.5 points, or 0.1%, and Nasdaq 100 e-minis were up 32 points, or 0.17%.


Gold futures: $2,445.1; +1.2%

US crude: $79.87; -0.2%

Brent crude: $83.85; -0.2%

($1= C$1.3613)

(Reporting by Khushi Singh in Bengaluru; Editing by Ravi Prakash Kumar)