June 12 (Reuters) - Futures tracking Canada's blue-chip stocks edged higher on Friday amid renewed optimism over an imminent peace deal between Iran and the United States after President Donald Trump said an agreement could be signed as early as this weekend.

June futures on the S&P/TSX index SXFcv1 were up 0.7% at 6:01 a.m. ET (1001GMT).

• The deal, if it goes through, could end the over three-month-old war that has pushed energy prices sharply higher and stoked inflation fears after Iran all but closed the Strait of Hormuz for shipping.

• Still, investors remain cautious, as Trump has repeatedly suggested in the past that the two sides were nearing a peace agreement, only for no deal to materialize.

• Oil prices fell more than 4% on hopes of easing supply concerns following the news. O/R

• Gold prices were flat but on track for weekly losses as rising energy costs continue to add to inflation concerns and expectations of potential rate hikes by the U.S. Federal Reserve. GOL/

• Canada's S&P/TSX Composite Index .GSPTSE rose to a one-week high on Thursday in a broad-based move, aided by Dollarama's upbeat results, which lifted the consumer discretionary sector, and gains in the materials sector, which includes stocks of metal miners.

• The benchmark was on track for marginal weekly gains, supported by advances in recent sessions on hopes for a de-escalation in the Middle East conflict.

• Meanwhile, Canada will invest more than C$1 billion ($715.72 million) to promote competition among grocers and food processors, Prime Minister Mark Carney said on Thursday, adding that efforts to combat high food inflation would also enhance national security. Canada has one of the highest food inflation rates among Group of Seven countries.

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