(Adds strategist quotes and details throughout; updates prices) * TSX ends up 26.31 points, or 0.1%, at 20,821.43 * The materials group gains 1.9%; energy down 0.4% * Price of U.S. oil falls 1% * For the week, the Toronto market advances 0.9% TORONTO, Sept 3 (Reuters) - Canada’s main stock index rose to a record high on Friday as higher commodity prices lifted mining stocks and a disappointing U.S. jobs report reduced the near-term risk of a stimulus taper by the Federal Reserve. The Toronto Stock Exchange’s S&P/TSX composite index ended up 26.31 points, or 0.1%, at 20,821.43, a record closing high. For the week, it was up 0.9%. The U.S. dollar added to this week’s decline against a basket of major currencies after a much weaker-than-expected U.S. payrolls report that is likely to keep the Fed at bay in scaling back its massive asset purchase program. “The weaker dollar could be helping to boost commodity prices, especially gold,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. Gold rallied 1% and copper was up 0.9%, while the materials group, which includes precious and base metals miners and fertilizer companies, added 1.9%, including a 13.8% jump in the shares of New Gold Inc. Technology shares added to recent gains, ending up 0.1%. “They tend to benefit from the easy-money party,” Cieszynski said, referring to the Fed’s loose monetary policy stance. The Bank of Canada is due to make an interest rate decision next Wednesday, while it will be a shortened week for domestic markets. The TSX is due to be closed on Monday for the Labour Day holiday. The energy sector gave back some of the previous day’s sharp gains, ending 0.4% lower along with a pullback in oil prices. U.S. crude oil futures settled down 1% at $69.29 a barrel. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru; Editing by Sandra Maler)