admin

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security.

And each time the gold price rises, there are calls for even higher record-breaking levels.

Gold market gurus from Lynette Zang to Chris Blasi to Jordan Roy-Byrne have shared eye-popping predictions on the gold price that would intrigue any investor — gold bug or not.

Some have posited that the gold price may rise as high as US$4,000 or US$5,000 per ounce, and there are those who believe that US$10,000 gold or even US$40,000 gold could become a reality.

These impressive price predictions have investors wondering, what is gold’s all-time high (ATH)?

In the past year, gold has reached a new all-time high dozens of times. Find out what has driven it to these levels, plus how the gold price has moved historically and what has driven its performance in recent years.

How is gold traded?

Before discovering what the highest gold price ever was, it’s worth looking at how the precious metal is traded. Knowing the mechanics behind gold’s historical moves can help illuminate why and how its price changes.

Gold bullion is traded in dollars and cents per ounce, with activity taking place worldwide at all hours, resulting in a live price for the metal. Investors trade gold in major commodities markets such as New York, London, Tokyo and Hong Kong. London is seen as the center of physical precious metals trading, including for silver. The COMEX division of the New York Mercantile Exchange is home to most paper trading.

There are many popular ways to invest in gold. The first is through purchasing gold bullion products such as bullion bars, bullion coins and rounds. Physical gold is sold on the spot market, meaning that buyers pay a specific price per ounce for the metal and then have it delivered. In some parts of the world, such as India, buying gold in the form of jewelry is the largest and most traditional route to investing in gold.

Another path to gold investment is paper trading, which is done through the gold futures market. Participants enter into gold futures contracts for the delivery of gold in the future at an agreed-upon price.

In such contracts, two positions can be taken: a long position under which delivery of the metal is accepted or a short position to provide delivery of the metal. Paper trading as a means to invest in gold can provide investors with the flexibility to liquidate assets that aren’t available to those who possess physical gold bullion.

One significant long-term advantage of trading in the paper market is that investors can benefit from gold’s safe-haven status without needing to store it. Furthermore, gold futures trading can offer more financial leverage in that it requires less capital than trading in the physical market.

Interestingly, investors can also purchase physical gold via the futures market, but the process is complicated and lengthy and comes with a large investment and additional costs.

Aside from those options, market participants can invest in gold through exchange-traded funds (ETFs). Investing in a gold ETF is similar to trading a gold stock on an exchange, and there are numerous gold ETF options to choose from. For instance, some ETFs focus solely on physical gold bullion, while others focus on gold futures contracts. Other gold ETFs center on gold-mining stocks or follow the gold spot price.

It is important to understand that you will not own any physical gold when investing in an ETF — in general, even a gold ETF that tracks physical gold cannot be redeemed for tangible metal.

With regards to the performance of gold versus trading stocks, gold has an interesting relationship with the stock market. The two often move in sync during “risk-on periods” when investors are bullish. On the flip side, they tend to become inversely correlated in times of volatility. There are a variety of options for investing in stocks, including gold mining stocks on the TSX and ASX, gold juniors, precious metals royalty companies and gold stocks that pay dividends.

According to the World Gold Council, gold’s ability to decouple from the stock market during periods of stress makes it “unique amongst most hedges in the marketplace.” It is often during these times that gold outperforms the stock market. For that reason, it is often used as a portfolio diversifier to hedge against uncertainty.

What was the highest gold price ever?

The gold price peaked at US$3,500.05, its all-time high, during trading on April 22, 2025.

Gold price chart, January 1, 2025, to August 11, 2025.

What drove it to set this new ATH? Gold reached its highest price amid concern that Trump would remove Jerome Powell as chair of the US Federal Reserve. Falling markets and a declining US dollar continued to support gold, as did increased gold purchasing in China in response to US tariffs on the country. Gold pulled back below US$3,400 later in the day as Trump stated he didn’t plan to fire Powell and that he may lower tariffs on China.

The gold price set a string of new highs in the month of April amid high market volatility as markets reacted to tariff decisions from Trump and the escalating trade war between the US and China. By April 11, Trump had raised US tariffs on Chinese imports to 145 percent and China has raised its tariffs on US products to 125 percent.

On April 9, Trump paused his higher ‘Liberation Day’ tariffs on any countries that did not reciprocate in response. However, the blanket 10 percent tariffs still stand, as do the 25 percent tariffs on the automotive sector.

Why is the gold price setting new highs in 2025?

This string of record-breaking highs this year are caused by several factors.

Increased economic and geopolitical turmoil caused by the new Trump administration has been a tailwind for gold this year, as well as a weakening US dollar, sticky inflation in the country and increased safe haven gold demand.

Since coming into office in late January, Trump has threatened or enacted tariffs on many countries, including currently paused blanket tariffs on longtime US allies Canada and Mexico and tariffs on the European Union. Trump has also implemented 25 percent tariffs on all steel and aluminum imports.

As for the effect of these widespread tariffs raising prices for the American populace, Trump has reiterated his sentiment that the US may need to go through a period of economic pain to enter a new ‘golden age’ of economic prosperity. Elon Musk’s call to audit the gold holdings in Fort Knox has also brought attention to the yellow metal.

What factors have driven the gold price in the last five years?

Despite these recent runs, gold has seen its share of both peaks and troughs over the last decade. After remaining rangebound between US$1,100 and US$1,300 from 2014 to early 2019, gold pushed above US$1,500 in the second half of 2019 on a softer US dollar, rising geopolitical issues and a slowdown in economic growth.

Gold’s first breach of the significant US$2,000 price level in mid-2020 was due in large part to economic uncertainty caused by the COVID-19 pandemic. To break through that barrier and reach what was then a record high, the yellow metal added more than US$500, or 32 percent, to its value in the first eight months of 2020.

Gold price chart, August 10, 2020, to August 11, 2025.

The gold price surpassed that level again in early 2022 as Russia’s invasion of Ukraine collided with rising inflation around the world, increasing the allure of safe-haven assets and pulling the yellow metal up to a price of US$2,074.60 on March 8, 2022. However, it fell throughout the rest of 2022, dropping below US$1,650 in October.

Although it didn’t quite reach the level of volatility as the previous year, the gold price experienced drastic price changes in 2023 on the back of banking instability, high interest rates and the breakout of war in the Middle East.

After central bank buying pushed the gold price up to the US$1,950.17 mark by the end of January, the US Federal Reserve’s 0.25 percent rate hike on February 1 sparked a retreat as the dollar and Treasury yields saw gains. The precious metal went on to fall to its lowest price level of the year at US$1,809.87 on February 23.

The banking crisis that hit the US in early March caused a domino effect through the global financial system and led to the mid-March collapse of Credit Suisse, Switzerland’s second-largest bank. The gold price jumped to US$1,989.13 by March 15. The continued fallout in the global banking system throughout the second quarter of the year allowed gold to break above US$2,000 on April 3, and go on to flirt with a near-record high of US$2,049.92 on May 3.

Those gains were tempered by the Fed’s ongoing rate hikes and improvements in the banking sector, resulting in a downward trend in the gold price throughout the remainder of the second quarter and throughout Q3. By October 4, gold had fallen to a low of US$1,820.01 and analysts expected the precious metal to drop below US$1,800.

That was before the October 7 attacks by Hamas on Israel ignited legitimate fears of a much larger conflict erupting in the Middle East. Reacting to those fears, and to rising expectations that the Fed would begin to reverse course on interest rates, gold broke through the important psychological level of US$2,000 and closed at US$2,007.08 on October 27. As the fighting intensified, gold reached a then-new high of US$2,152.30 in intraday trading on December 3.

That robust momentum in the spot gold price continued into 2024, chasing new highs on fears of a looming US recession, the promise of Fed rate cuts on the horizon, the worsening conflict in the Middle East and the tumultuous US presidential election year. By mid-March, gold was pushing up against the US$2,200 level.

That record-setting momentum continued into the second quarter of 2024 when gold broke through US$2,400 in mid-April on strong central bank buying, sovereign debt concerns in China and investors expecting the Fed to start cutting interest rates. The precious metal went on to hit US$2,450.05 on May 20.

Throughout the summer, the hits kept on coming.

The global macro environment was highly bullish for gold in the lead up to the US election. Following the failed assassination attempt on Trump and a statement about coming interest rate cuts by Fed Chair Powell, the gold spot price hit a then new all-time high on July 16 at US$2,469.30. One week later, news that then-President Joe Biden would not seek re-election and would instead pass the baton to Vice President Kamala Harris eased some of the tension in the stock markets and strengthened the US dollar. This also pushed the price of gold down to US$2,387.99 on July 22, 2024.

However, the bullish factors supporting gold remained in play, and the spot price for gold went on to breach US$2,500 on August 2 that year on a less than stellar US jobs report; it closed just above the US$2,440 level. A few weeks later, gold pushed past US$2,500 once again on August 16, closing above that level for the first time ever after the US Department of Commerce released data showing a fifth consecutive monthly decrease in a row for homebuilding.

The news that the Chinese government issued new gold import quotas to banks in the country following a two month pause also helped fuel the gold price rally. Central bank gold buying has been a significant tailwind for the gold price this year, and China’s central bank has been one of the strongest buyers.

Market watchers expected the Fed to cut interest rates by a quarter point at their September 2024 meeting, but news on September 12 that the regulators were still deciding between the expected cut or a larger half-point cut led gold prices on a rally that carried through into the next day, bringing gold prices near US$2,600.

At the September 18 Fed meeting, the committee ultimately made the decision to cut rates by half a point, news that sent gold even higher. By September 20, it moved above US$2,600 and held above US$2,620.

In October 2024, gold first breached the US$2,700 level and continued to higher on a variety of factors, including further rate cuts and economic data anticipation, the escalating conflict in the Middle East between Israel and Hezbollah, and economic stimulus in China — not to mention the very close race between the US presidential candidates.

While the gold price fell following Trump’s win in early November and largely held under US$2,700 through the end of the year, it began trending upwards in 2025 to the new all-time high discussed earlier in the article.

What’s next for the gold price?

What’s next for the gold price is never an easy call to make. There are many factors to consider, but some of the most prevalent long-term drivers include economic expansion, market risk, opportunity cost and momentum.

Economic expansion is one of the primary gold price contributors as it facilitates demand growth in several categories, including jewelry, technology and investment. As the World Gold Council explains, “This is particularly true in developing economies where gold is often used as a luxury item and a means to preserve wealth.”

Market risk is also a prime catalyst for gold values as investors view the precious metal as the “ultimate safe haven,” and a hedge against currency depreciation, inflation and other systemic risks.

Going forward, in addition to the Fed, inflation and geopolitical events, experts will be looking for cues from factors like supply and demand. In terms of supply, the world’s five top gold producers are China, Australia, Russia, Canada and the US. The consensus in the gold market is that major miners have not spent enough on gold exploration in recent years. Gold mine production has fallen from around 3,200 to 3,300 metric tons (MT) each year between 2018 and 2020 to around 3,000 to 3,100 MT each year between 2021 and 2023.

On the demand side, China and India are the biggest buyers of physical gold, and are in a perpetual fight for the title of world’s largest gold consumer. That said, it’s worth noting that the last few years have brought a big rebound in central bank gold buying, which dropped to a record low in 2020, but reached a 55 year high of 1,136 MT in 2022.

World Gold Council data shows 2024 central bank gold purchases came to 1,044.6 MT, marking the third year in a row above 1,000 MT. In H1 2025, the organization says gold purchases from central banks reached 415.1 MT.

In addition to central bank moves, analysts are also watching for escalating tensions in the Middle East, a weakening US dollar, declining bond yields, and further interest rate cuts as factors that could push gold higher as investors look to secure their portfolios. “When it comes to outside factors that affect the market, it’s just tailwind after tailwind after tailwind. So I don’t really see the trend changing,” Coffin said.

Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, believes that market risk and uncertainty surrounding tariffs and continued demand from central banks are the main drivers of gold.

Should you beware of gold price manipulation?

It’s important for investors to be aware that gold price manipulation is a hot topic in the industry.

In 2011, when gold hit what was then a record high, it dropped swiftly in just a few short years. This decline after three years of impressive gains led many in the gold sector to cry foul and point to manipulation.

Early in 2015, 10 banks were hit in a US probe on precious metals manipulation.

Evidence provided by Deutsche Bank (NYSE:DB) showed “smoking gun” proof that UBS Group (NYSE:UBS), HSBC Holdings (NYSE:HSBC), the Bank of Nova Scotia (TSX:BNS,NYSE:BNS and other firms were involved in rigging gold and silver rates in the market from 2007 to 2013. Not long after, the long-running London gold fix was replaced by the LBMA gold price in a bid to increase gold price transparency. The twice-a-day process, operated by the ICE Benchmark Administration, still involves a variety of banks collaborating to set the gold price, but the system is now electronic.

Still, manipulation has by no means been eradicated, as a 2020 fine on JPMorgan Chase & Co. (NYSE:JPM) shows. The next year, chat logs were released in a spoofing trial for two former precious metals traders from the Bank of America’s (NYSE:BAC) Merrill Lynch unit. They show a trader bragging about how easy it is to manipulate the gold price.

Gold market participants have consistently spoken out about manipulation. In mid-2020, Chris Marcus, founder of Arcadia Economics and author of the book “The Big Silver Short,” said that when gold fell back below the US$2,000 mark after hitting close to US$2,070, he saw similarities to what happened with the gold price in 2011.

Marcus has been following the gold and silver markets with a focus specifically on price manipulation for nearly a decade. His advice? “Trust your gut. I believe we’re witnessing the ultimate ’emperor’s really naked’ moment. This isn’t complex financial analysis. Sometimes I think of it as the greatest hypnotic thought experiment in history.”

Investor takeaway

While we have the answer to what the highest gold price ever is as of now, it remains to be seen how high gold can climb, and if the precious metal can reach as high as US$5,000, US$10,000 or even US$40,000.

Even so, many market participants believe gold is a must have in any investment profile, and there is little doubt investors will continue to see gold price action making headlines this year and beyond.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investing

Drilling Commences – Webbs Silver Project

Rapid Critical Metals (RLL:AU) has announced Drilling Commences – Webbs Silver Project

Download the PDF here.

This post appeared first on investingnews.com

Investing

Prismo Metals Discovers Two Separate Mineralized Veins at Silver King

(TheNewswire)

Prismo to Host Webinar on September 3rd

Vancouver, British Columbia, August 27, 2025 TheNewswire – Prismo Metals Inc. (the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to provide an update on ongoing exploration work at the Silver King mine. The exploration work currently in progress has resulted in the identification of two previously undescribed veins with mineralogical characteristics similar to those at Silver King (Fig. 1). Preliminary analysis with a portable XRF instrument shows the mineralization contains lead, silver, copper and zinc. A first batch of samples has been submitted to the lab, with results expected in the coming weeks.

‘During reconnaissance work, we have been working on understanding the controls of mineralization at the Silver King mine,’ stated Dr. Craig Gibson, Chief Exploration Officer of the Company. ‘Two previously undescribed veins were discovered (Figure 1.), including one at a large mine dump about 300 meters south of the Silver King mine shaft. We believe this may have been the location of significant silver production. Several veins and prospect pits occur 300 meters along strike to the NE to a point near the Silver King glory hole. Of particular note, this is the first time we have observed mineralization similar to the Silver King deposit outside of the historic mine and so it provides an exciting new exploration target.’

Click Image To View Full Size

Figure 1 . The Silver King with exploration advances. The red line represents the trace
of a quartz vein with silver-copper-lead-zinc mineralization in a previously undescribed vein.
The green line represents a quartz vein with copper mineralization with silver values.

He added: ‘The stockpile of vein materials is located above an area that was used to smelt the sulfide ore, and numerous conical shaped pieces of slag, with the pointed tips that would have contained the concentrated metals removed. Examination of a collapsed mine portal showed the presence of quartz veinlets containing sulfide minerals, mainly sphalerite, galena and tetrahedrite.’

Initial work at the Silver King project has consisted of a property wide survey of the historic mines and prospects, as well as a geochemical and alteration mineral survey around the surface expression of the Silver King deposit and other mineral occurrences. The Silver King deposit is located a few kilometers from the Resolution Copper deposit (a joint venture between Rio Tinto and BHP) and the high-grade Magma mine, a former copper and silver producer. Mineralization at Silver King is hosted by the same rock sequence that hosts the Resolution Copper deposit, but which is exposed at the surface and is not covered by the thick sequence of volcanic rocks that covers Resolution Copper.

Prismo plans to complete the current exploration program in September and conduct a preliminary exploration drill program upon obtaining its drill permit. The Company has submitted a plan of operations for the drill program with the Forest Service. Work is ongoing to further define the controls on mineralization at the historic mine. It is also expected that access to the historic workings on the 114 level of the mine will be achieved shortly.

‘Having toured the Silver King mine site (along with the Ripsey mine) with Chief Exploration Officer Craig Gibson in early August, the prevalence and scale of the historic and current producing mines in the district was truly impressive,’ stated Gordon Aldcorn, President. ‘Acquiring a past producing mine with virtually no modern exploration in such close proximity to other world class deposits is a rare opportunity for Prismo Metals.’

On July 4, 2025, the Company announced that it had signed option agreements to acquire 100% interest in the Silver King and Ripsey mines — both historic high-grade precious and base metal mines located in Arizona’s prolific Copper Belt near its flagship Hot Breccia project. A crew led by Dr. Craig Gibson, Chief Exploration Officer of the Company, has been working at the project since Aug 4.

Click Image To View Full Size

Figure 2 . Top image , vein fragments from newly recognized target.
Bottom image , cone of slag with tip removed.

Webinar

Prismo is pleased to invite investors and other interested parties to attend the Company’s upcoming live webinar presentation, audience Q&A and interview.

CEO Alain Lambert and Chief Exploration Officer Dr. Craig Gibson will discuss Prismo’s three advanced-stage exploration projects.

The webinar will be a live, interactive online event where attendees can ask the presenters questions in real time. A recording will be available for those who cannot join the live event.

Event : Radius Research Pitch, Deep Dive, and Q&A with Prismo Metals Inc.

Presentation Date & Time : Wednesday, September 3rd @ 4 PM ET / 1 PM PT

Webcast Registration Link: https://us02web.zoom.us/webinar/register/6817562353172/WN_VYgFeEN9QQqfctchdJ4ACQ

This webinar will be hosted by Radius Research, giving individual investors access to in-depth CEO interviews with deep-dive institutional-level discussion and Q&A. Radius Research is part of Market Radius Capital, Inc. and hosted by Martin Gagel, a former top-ranked sell-side technology and special situations analyst.

About Silver King

Discovered in 1875, the Silver King mine is one of Arizona’s most important historical producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. Selected samples from small-scale production in the late 1990s returned historical grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t). Additionally, the presence of freibergite (AgCuSbS) suggests a potential for antimony, a critical mineral with growing strategic demand.

Strategic Location

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and recognized as one of the world’s largest unmined copper deposits. (1) This unique land position is fully surrounded by Resolution Copper’s claim block, offering strategic upside.

The Silver King mine was discovered in 1875 and produced as much as 10,000 ounces per ton silver in near surface workings. (2) Underground production through 1889 is estimated at almost 6 million ounces of silver at grades of between 61 and 21 ounces per ton. During a second period of production from 1918 to 1928, 230,000 ounces were produced at a grade of 18.7 ounces per ton. No significant production has occurred after 1928.

Silver King is a steeply west-dipping pipelike stockwork and breccia zone that was mined on eight levels to about 300 meters depth below a glory hole at the surface. The pipe is described as a dense stockwork with local breccia zones and a quartz core, and that due to variations in mineralogy, much of the upper portion of the body has not been mined (3) . The current owners from whom the Company has optioned the project rehabilitated the main shaft in the late 1990s, opened the upper levels of the mine and produced a small tonnage. Assay certificates from this period show selected samples with 400 to 600 ounces per ton silver with 0.2-0.5 oz/t gold and some base metals. Virtually no modern exploration has been carried out at the mine providing significant exploration upside and multiple drill targets.

With respect to the Resolution deposit, the QP has been unable to verify the information, and the information is not necessarily indicative to the mineralization on the Silver King property.

(1) https://resolutioncopper.com/about-us/

(2) Galbraith, F, 1935, Geology of the Silver King area, Superior, Arizona, Univ. of Arizona thesis, 153p plus plates.

(3) Blake, W.P., 1883, Description of the Silver King Mine, Arizona, New Haven, 48p plus plates.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. The historic data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.

(4) https://resolutioncopper.com/about-us/

(5) Briggs, D. 2015, Superior, Arizona: An old mining camp with many lives, Ariz. Geol Survey Contributed Report CR-15-D, 13p.

About the Silver King mine

Discovered in 1875, the Silver King mine was one of Arizona’s most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. No significant production has occurred after 1928.

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world’s largest unmined copper deposits, and just over 600m from the historic Magma mine deposit. The unique land position is fully surrounded by Resolution Copper’s claim block, offering strategic upside. Selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6

Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Silver King and the timing of such drilling campaign.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

Investing

Crypto Market Update: ETH Funds Absorb US$1.3 Billion in Weekly Inflows, CFTC Moves to Secure DeFi Market

Here’s a quick recap of the crypto landscape for Wednesday (August 27) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$112,039, a 1 percent increase in 24 hours. Its lowest valuation of the day was US$111,198 and its highest price on Wednesday was US$112,555.

Bitcoin price performance, August 27, 2025.

Chart via TradingView.

Bitcoin has come under pressure in recent days, briefly sliding below US$110,000 amid a broader crypto sector selloff and macroeconomic uncertainty. Trading at its lowest level in seven weeks, the drop has sparked debate among investors over whether the pullback presents a buying opportunity.

Ether (ETH) was priced at US$4,569.50, down by 0.5 percent over the past 24 hours to its lowest valuation of the day. Its highest was US$4,657.28.

Altcoin price update

Solana (SOL) was priced at US$26.86, up by 5 percent. Its lowest valuation on Wednesday was US$203.35, and its highest valuation was US$211.54.

XRP was trading for US$3, down by 1.6 percent in the past 24 hours, and at its lowest valuation of the day. Its highest valuation on Wednesday was US$3.04.

SUI (Sui) was trading for US$3.47, down by 0.1 percent in the past 24 hours. Its lowest valuation of the day was US$3.44, and its highest level of the day was US$3.51.

Cardano (ADA) was priced at US$0.8629, down by 1.1 percent. Its lowest valuation for Wednesday was US$0.8571, and its highest valuation was US$0.8751.

Today’s crypto news to know

ETH inflows hit US$1.3 billion following Powell’s policy hints

ETH funds have seen a massive US$1.3 billion worth of inflows over the past week as traders respond to dovish signals from US Federal Reserve Chair Jerome Powell. Data from SoSoValue shows ETH-based exchange-traded products have absorbed US$3.7 billion since June, compared with US$900 million in outflows from Bitcoin funds.

The surge also coincides with ETH hitting a new all-time high of US$4,955 on Sunday (August 24).

Publicly listed companies joined the rush too, adding ETH to their corporate treasuries and pushing collective holdings to nearly 5 percent of total supply. That accumulation rate is running at more than twice the fastest quarterly pace Bitcoin has ever seen, according to Standard Chartered’s (LSE:STAN) Geoffrey Kendrick via DLNews.

Trump Media, Crypto.com seal US$6.4 billion CRO treasury deal

Trump Media & Technology Group shares climbed 5 percent on Tuesday (August 26) after the company confirmed a US$6.42 billion partnership with Crypto.com to launch a CRO-focused treasury vehicle.

Dubbed the Trump Media Group CRO Strategy, the new entity will be seeded with US$1 billion in CRO and its balance will be structured as an equity line for future token purchases. As part of the agreement, the company will operate a validator node on the Cronos blockchain, staking all its tokens to earn network rewards. CRO prices soared 30 percent in a single day after the announcement, even as most of the crypto market lagged.

Still, the deal has stirred controversy among token holders, as it requires reissuing 70 billion CRO previously “burned” to reduce supply, effectively inflating circulation by more than 200 percent.

CRO jumped 40 percent on the announcement and was up by over 25 percent over 24 hours at the time of writing.

Canary Capital files for first spot ETF tracking Trump meme coin

Crypto fund manager Canary Capital has submitted paperwork to launch the first spot exchange-traded fund (ETF) tied directly to US President Donald Trump’s meme coin, $TRUMP, according to a Reuters report.

Unlike earlier applications filed under the 1940 Investment Company Act, Canary’s proposal was lodged under the 1933 Securities Act, meaning the ETF would hold $TRUMP tokens outright rather than use offshore subsidiaries or cash equivalents. The application comes despite skepticism from analysts, who note that the US Securities and Exchange Commission (SEC) typically requires a futures ETF to trade for six months before approving a spot product.

The filing follows the SEC’s February announcement that meme coins fall outside its securities jurisdiction, a decision seen as aligning with the president’s pro-crypto stance.

The $TRUMP token has lost more than 70 percent of its value since launching in January. Analysts expect the SEC to rule on several meme coin ETF applications later this year.

DeFi industry coalition advocates for developer protections

The DeFi Education Fund and a coalition of more than 110 crypto companies, investors and advocacy groups sent a letter to the Senate Banking and Agriculture Committees on Wednesday, urging lawmakers to update financial rules to ensure developers and non-custodial actors are not misclassified as intermediaries. The signatories include major players in the DeFi space, such as Coinbase Global (NASDAQ:COIN), Kraken, Ripple, a16z and Uniswap Labs.

“Provide robust, nationwide protections for software developers and non-custodial service providers in market structure legislation,” the letter reads. “Without such protections, we cannot support a market structure bill.”

CFTC to integrate Nasdaq Market Surveillance platform

The Commodity Futures Trading Commission (CFTC) announced on Wednesday that it plans to integrate Nasdaq’s Market Surveillance platform, a financial surveillance tool developed by Nasdaq.

“As our markets continue to evolve and integrate new technology, it’s critical that the CFTC stays ahead of the curve,” acting CFTC Chair Caroline Pham said in a press release. “Nasdaq Market Surveillance will, for the first time, provide the CFTC with automated alerts and cross-market analytics that will benefit each of the CFTC’s operating divisions and better protect our markets from fraud, manipulation and abuse.”

The CFTC asserts that using the platform will allow the agency to more efficiently analyze market trends and spot unusual trading activity, enabling staff to take quicker action against bad actors.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Business

Google has eliminated 35% of managers overseeing small teams in past year, exec says

Google has eliminated more than one-third of its managers overseeing small teams, an executive told employees last week, as the company continues its focus on efficiencies across the organization.

“Right now, we have 35% fewer managers, with fewer direct reports” than at this time a year ago, said Brian Welle, vice president of people analytics and performance, according to audio of an all-hands meeting reviewed by CNBC. “So a lot of fast progress there.”

At the meeting, employees asked Welle and other executives about job security, “internal barriers” and Google’s culture after several recent rounds of layoffs, buyouts and reorganizations.

Welle said the idea is to reduce bureaucracy and run the company more efficiently.

“When we look across our entire leadership population, that’s mangers, directors and VPs, we want them to be a smaller percentage of our overall workforce over time,” he said.

The 35% reduction refers to the number of managers who oversee fewer than three people, according to a person familiar with the matter. Many of those managers stayed with the company as individual contributors, said the person, who asked not to be named because the details are private.

Google CEO Sundar Pichai weighed in at the meeting, reiterating the need for the company “to be more efficient as we scale up so we don’t solve everything with headcount.”

Google eliminated about 6% of its workforce in 2023, and has implemented cuts in various divisions since then. Alphabet finance chief Anat Ashkenazi, who joined the company last year, said in October that she would push cost cuts “a little further.” Google has offered buyouts to employees since January, and the company has slowed hiring, asking employees to do more with less.

Regarding the buyouts, executives at the town hall said that a total of 10 product areas have presented “Voluntary Exit Program” offers. They’ve applied to U.S.-based employees in search, marketing, hardware and people operations teams this year.

Fiona Cicconi, Google’s chief people officer, said at last week’s meeting that between 3% and 5% of employees on those teams have accepted the buyouts.

“This has been actually quite successful,” she said, adding “I think we can continue it.”

Pichai said the company executed the voluntary buyouts after listening to employees, who said they preferred that route to blanket layoffs.

“It’s a lot of work that’s gone into implementing the VEP program, and I’m glad we’ve done it,” Pichai said. “It gives people agency, and I’m glad to see it’s worked out well.”

Cicconi said one of the main reasons employees are taking the buyouts is because they want to take time off from work.

“It’s actually quite interesting to see who’s taking a VEP, and it’s people sort of wanting a career break, sometimes to take care of family members,” she said.

CNBC previously reported that the layoffs hurt morale as the company was downsizing while at the same time issuing blowout earnings and seeing its stock price jump. Alphabet’s shares are up 10% this year after climbing 36% in 2024 and 58% the year prior.

At another point in the town hall, employees asked if Google would consider a policy similar to Meta’s “recharge,” a month-long sabbatical that employees earn after five years at the company.

“We have a lot of leaves, not least our vacation, which is there for exactly that — resting and recharging,” said Alexandra Maddison, Google’s senior director of benefits.

She said the company is not going to offer paid sabbatical.

“We’re very confident that our current offering is competitive,” Maddison said.

Meta didn’t immediately respond to a request for comment.

Other executives jumped in to compare the two companies’ benefits.

“I don’t think they have a VEP at Meta by the way,” Cicconi said.

Pichai then asked, to some laughs from the audience, “Should we incorporate all policies of Meta while we’re at it? Or should we only pick and choose the few policies we like?”

“Maybe I should try running the company with all of Meta’s policies,” he continued. “No, probably not.”

This post appeared first on NBC NEWS

Business

Cracker Barrel will go back to old logo after conservative backlash

Uncle Herschel is returning to the Cracker Barrel chair.

After online outrage by conservatives who accused the country-themed restaurant chain of changing its values or going “woke” when it rolled out a new logo, the company said Tuesday that it was returning to its old branding.

‘We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have. Our new logo is going away and our ‘Old Timer’ will remain,’ Cracker Barrel said on Facebook.

‘At Cracker Barrel, it’s always been — and always will be — about serving up delicious food, warm welcomes, and the kind of country hospitality that feels like family,’ the company said. ‘As a proud American institution, our 70,000 hardworking employees look forward to welcoming you to our table soon.’

The new Cracker Barrel logo on a menu in a restaurant in Homestead, Fla., on Thursday.Joe Raedle / Getty Images file

Cracker Barrel, which has restaurants in 43 states, on Aug. 18 announced its new ‘All the More’ campaign and logo change, which removed the old man perched on a chair and the barrel from Cracker Barrel signs.

The new logo did not go over well in some spheres, and on social media, conservative critics accused the restaurant chain of abandoning its traditional values or of being ‘woke.’

President Donald Trump weighed in on the matter earlier Tuesday, writing on his social media platform, Truth Social, that the company should return to the old logo.

After Cracker Barrel announced the reversal Tuesday, Trump said on the platform: ‘Congratulations ‘Cracker Barrel’ on changing your logo back to what it was. All of your fans very much appreciate it.’ Trump also wished the company good luck.

Paul Weaver / SOPA Images/LightRocket via Getty Images

Taylor Budowich, a deputy White House chief of staff, claimed on X that he’d spoken with people at Cracker Barrel by phone Tuesday about the issue and said, ‘They thanked President Trump for weighing in on the issue of their iconic ‘original’ logo.’

Cracker Barrel did not immediately respond to a request for comment about a White House call.

Shares of Cracker Barrel jumped sharply Tuesday night after it announced the reversal. Since the debut of the new logo on Aug. 18, shares are down nearly 13%.

Cracker Barrel tried to tamp down the controversy Monday by admitting ‘we could’ve done a better job sharing who we are and who we’ll always be’ and issuing reassurances that its values had not changed.

The change was part of a “strategic transformation” that started in 2024 to revitalize the brand, CNBC reported when the new logo was introduced. The company has said that the initiative included ‘refreshing the brand identity’ and making changes to its menu.

Other companies have been met with right-wing outrage for advertising or other business decisions, including when Bud Light had a branded content partnership with transgender TikToker Dylan Mulvaney.

This post appeared first on NBC NEWS

Investing

Westport Announces the Resignation of Chief Financial Officer William Larkin and Appoints Elizabeth Owens as Successor

Westport Fuel Systems Inc. (‘Westport’ or the ‘Company’) (TSX: WPRT Nasdaq: WPRT) today announced the resignation of its Chief Financial Officer (CFO), William Larkin and the appointment of Elizabeth Owens as his successor. Mr. Larkin will step down in his capacity as CFO effective immediately and remain in an advisory capacity through September 15, 2025, to ensure a smooth transition and the seamless transfer of duties and responsibilities.

‘On behalf of myself and the Board, I would like to thank Bill for his commitment and significant contributions to Westport,’ said Dan Sceli, Chief Executive Officer of Westport. ‘Over his time at Westport, Bill has led the organization through a transformational period, including the recent sale of the Light-Duty segment and close of our HPDI joint venture, Cespira, helping to position the organization for long-term success. Bill has been a valuable member of our management team, and we wish him well in the future.’

‘I am incredibly proud of what we have accomplished over my time at Westport to reposition the company and support its long-term strategy. As I step down from my role, I am confident Elizabeth is the right finance leader to continue building on this momentum. With strong financial expertise and a proven track record within Westport, Elizabeth brings the experience and perspective Westport needs for its next chapter,’ said Bill Larkin.

Succeeding William Larkin is Elizabeth Owens, a seasoned finance executive with experience that spans a diverse set of multinational corporate environments in a range of large publicly held companies. Ms. Owens has been with Westport for 10 years, most recently as Vice President, Finance and Tax. Over the last 20 years, Ms. Owens has held management and leadership roles across various industries, including automotive, telecommunications, aviation, and chemical manufacturing. She brings extensive experience in leading global teams in tax, finance, and accounting, as well as broad experience in mergers, acquisitions and divestitures. She began her career as a CPA, CA with Deloitte and holds a Bachelor of Commerce with a major in Accounting from the University of British Columbia.

‘Elizabeth has been a key part of our finance team for 10 years. Her expertise was instrumental in the successful execution of a number of the Company’s transformational initiatives, including the establishment of our joint venture relationship with a major OEM. We look forward to supporting her as she takes on this expanded role,’ continued Dan Sceli.

About Westport Fuel Systems

Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions.

Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals—without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality.

Westport Fuel Systems is headquartered in Vancouver, Canada. For more information, visit www.westport.com .

For more information contact:

Investor Relations
T: +1 604-718-2046
E: invest@Westport.com

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Investing

Canada Backs Port Expansions, Strikes Critical Minerals Deal With Germany

Ottawa’s push to strengthen trade links with Europe is moving ahead on two tracks: investing in new port infrastructure at home and formalizing a minerals partnership with Germany abroad.

Speaking alongside German Chancellor Friedrich Merz in Berlin, Prime Minister Mark Carney confirmed Tuesday (August 26) that Canada would support major new infrastructure projects, including a new port in Churchill and an expansion of Montreal’s Contrecœur terminal.

He also shared a bilateral agreement with Germany to cooperate on critical minerals development which will bring the two countries working together on project financing, technological development and supply-chain integration.

“A number of those investments, the first of which we will be formally announcing in the next two weeks, are with respect to new port infrastructure,” Carney said.

The new facilities, he added, would reinforce Montreal’s port system and create “enormous LNG plus other opportunities” in Churchill, alongside upgrades to other East Coast ports to handle critical metals and minerals.

The announcements deliver on a central campaign promise by Mr. Carney’s Liberals to advance large-scale infrastructure projects as a counterweight to US President Donald Trump’s protectionist trade policies.

Germany agreement

Natural Resources Minister Tim Hodgson signed the minerals agreement with his German counterpart in Berlin.

While not legally binding, the deal outlines plans to coordinate investment and appoint envoys to deepen cooperation in sectors ranging from electric vehicles to aerospace and defence.

“So there is a lot happening,” Carney added. “The number one focus of this government is to build that infrastructure, and particularly infrastructure that helps us deepen our partnership with our European partners, and particularly Germany.”

Germany is Canada’s largest European trading partner, with bilateral trade in goods reaching US$30.5 billion last year. For Berlin, diversifying supplies of energy and industrial inputs remains a priority after the country cut reliance on Russian natural gas following Moscow’s invasion of Ukraine.

Ottawa and Berlin have previously signed memorandums of understanding on hydrogen and critical minerals, including 2022 agreements with Volkswagen (OTC Pink:VLKAF,FWB:VOW) and Mercedes-Benz Group (OTC Pink:MBGAF,ETR:MBG) to secure supplies of nickel, cobalt and lithium for electric vehicle batteries.

Canada’s economy has long depended on the US market, and the intensifying trade dispute with Washington has accelerated Ottawa’s drive to find new outlets.

The Prime Minister has framed Europe as Canada’s most reliable alternative, calling the country “the most European of non-European nations.”

His current trip marks his fourth visit to the continent since taking office in March, with stops in Ukraine, Poland, Germany and Latvia.

For Churchill, a new port would be a welcome transformation.

The northern Manitoba town’s existing facilities have largely been used for grain exports. Expanding its capacity to handle liquefied natural gas and minerals could give Canada another strategic outlet to Atlantic markets, bypassing congested southern corridors and reducing dependence on US ports.

US adds minerals to list

While Canada seeks to deepen European ties, Washington is reinforcing its own approach.

On Monday (August 25), the US Department of the Interior released a draft 2025 list of 54 critical minerals deemed vital to the economy and national security.

For the first time, copper, silver and potash were included, alongside silicon, rhenium and lead.

“President Trump has made clear that strengthening America’s economic and national security means securing the resources that fuel our way of life,” Interior Secretary Doug Burgum said in a recent press release.

“This draft list of critical minerals provides a clear, science-based roadmap to reduce our dependence on foreign adversaries, expand domestic production and unleash American innovation.”

The list, updated every three years under the Energy Act of 2020, guides federal investment, permitting, and recycling strategies. It originated with a 2017 executive order that directed agencies to assess US vulnerabilities in mineral supply chains.

The US Geological Survey tested more than 1,200 disruption scenarios for 84 minerals across 402 industries. The analysis flagged rare earths such as dysprosium, terbium and lutetium among the commodities posing the highest potential risks.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investing

Carney’s Bold Defense Plan: Opportunities for Canadian Investors

Canada is shepherding its defense sector into a new era of higher spending and strategic importance, a policy shift that RBC (TSX:RY,NYSE:RY) analysts have called one of the most ambitious in the country’s modern history.

At the NATO summit this past June, Canadian Prime Minister Mark Carney pledged a two stage spending surge that will allow the nation to spend at least 2 percent of GDP on defense, meeting a directive from the alliance.

For Canada, that will amount to a cash increase of over C$9 billion, raising the country’s total defense-related spending to 5 percent of GDP by 2035, an annual expenditure of up to C$150 billion.

During a Monday (August 26) visit to Poland, Carney said Canada is committed to following Poland’s lead in meeting NATO defense commitments, noting Warsaw’s spending of nearly 5 percent of GDP as a benchmark.

“We learned much from the prime minister … including the importance of pulling our full weight in NATO,” he said, underscoring Canada’s goal of reaching NATO’s 2 percent target by 2026 and hitting a 5 percent security spend by 2035.

The prime minister also emphasized that this shift signals a change in Canada’s approach that will see the country contribute assertively to its own and allied security amid growing geopolitical uncertainty.

Globally, defense spending is on the rise, projected by MarketsandMarkets to reach US$2.55 billion by 2028, presenting a significant opportunity for investors interested in defense-related investments.

A policy break with the past

Canada has long lagged behind its NATO peers in terms of defense spending. According to a May report published by CIBC, Canada allocated only 1.4 percent of its GDP to defense in 2024.

Carney’s new commitments, which allocate 3.5 percent for core military spending and 1.5 percent for broader security investments like critical infrastructure, mark a stark contrast. The 2025/2026 plan from Department of National Defense and the Canadian Armed Forces underscores how this funding will be deployed, outlining a heightened focus on the Arctic and modernization of the North American Aerospace Defense Command (NORAD).

The plan also prioritizes safeguarding Canada’s defense assets, enhancing allied interoperability and integrating advanced technologies like artificial intelligence, nuclear deterrence and drones into training.

To address vulnerabilities such as transportation and manufacturing disruptions, Ottawa will develop a Defense Industrial Strategy aimed at securing timely access to key capabilities while reinforcing the domestic industrial base.

Ottawa is also planning a standalone Canadian Defense Procurement Agency, overseen by Stephen Fuhr, secretary of state for defense procurement, to deliver on these commitments.

For domestic contractors frustrated by bureaucracy and delays, these developments could be a game changer.

Economic impact of defense spending

The RBC and CIBC reports both indicate that defense spending has a positive economic multiplier.

RBC analysts suggest that new Canadian spending commitments that prioritize major equipment purchases could change the breakdown of the nation’s defense budget, which typically allocates 50 percent to personnel, 25 percent to operations, 20 percent to capital and 5 percent to infrastructure. As per NATO’s guidelines for members, at least 20 percent of countries’ defense spending must go toward new equipment purchases.

For its part, CIBC suggests the benefits could be “larger than perceived,” with “multiple short-and long-term positive spinoffs,” including job creation, refuting the idea that defense spending “crowds out” other economic activity.

CIBC highlights defense-related research and development (R&D) as the most powerful driver of long-term economic growth in its reports, with the potential to double the economic benefit of initial spending.

Mehrdad Hariri of the Canadian Science Policy Center has also made a case for R&D spending, arguing for at least a 20 percent allocation of the defense budget, citing dual-use technologies as a catalyst for growing the broader economy.

Dual-use capabilities can also be a bridge for investors with ESG or pension constraints that avoid pure defense stocks.

Canadian defense subsectors to watch

RBC’s report identifies key sectors to watch in Canada’s defense market. Air, land and marine systems are listed as the country’s “core domains” of defense production, supported by strong manufacturing bases in Ontario and Québec for things like combat vehicles, aircraft fabrication, naval shipbuilding and maintenance.

Carney’s pledge to prioritize domestic suppliers is a clear signal to the Canadian defense industrial base, with industry observers linking strategic priorities to concrete market opportunities. As the Globe and Mail’s Pippa Norma has reported, Ottawa’s spending surge is set to help position homegrown players like CAE (TSX:CAE,NYSE:CAE), Calian Group (TSX:CGY), Bombardier (TSX:BBD.A,TSX:BBD.B) and Seaspan to capture new contracts.

In the shipbuilding sector, Ontario’s C$215 million initiative aims to revitalize the province’s warship industry by boosting its shipbuilding capacity for the National Shipbuilding Strategy, an industry dormant since WWII.

Ontario Premier Doug Ford and Vic Fedeli, the province’s minister of economic development, job creation and trade, recently met with senior executives of Algoma Steel Group (TSX:ASTL,NASDAQ:ASTL) to discuss the company supplying steel for the defense industry, potentially securing multibillion-dollar contracts for Canadian navy corvettes designed by Italy’s Fincantieri (BIT:FCT), one of the world’s leading shipbuilders.

“We let them know that if they try to pivot…we would be there to help them,” Fedeli told the Globe and Mail.

Another Canadian firm, Davie Shipbuilding, plans to leverage its recent acquisition of two Texas shipyards to develop local shipbuilding capacity to secure a contract to build icebreakers for the US.

The federal government is also actively pursuing partnerships. The EU defense pact, which Canada signed in June, opens a new market beyond the established US-integrated supply chains. As a recent example, Canadian armored-vehicle maker Roshel has partnered with Swedish steel producer Swebor to manufacture ballistic-grade steel in Canada.

“This project goes beyond steel — it is about establishing industrial sovereignty. By bringing ballistic steel production to Canada, we are reducing a critical dependency, protecting our supply chain, and laying the groundwork for long-term resilience in the defense and manufacturing sectors,’ said Roshel CEO Roman Shimonov in a press release.

This news comes as Canada reviews the purchase of 88 F-35 Lightning fighter jets from US defense contractor Lockheed Martin (NYSE:LMT). Carney ordered the review in March, saying Canada is overreliant on the US defense industry.

While no final decision has been made, the most likely alternative to the F-35 would be the Saab Gripen, a Swedish-made fighter jet. Mélanie Joly, Canada’s minister of innovation, science and industry, visited Saab facilities during a mid-August trip to Sweden and Finland to discuss industrial defense ties between Europe and Canada, but said it was a “normal” part of her job and that she will also meet with US executives from Lockheed Martin.

Risks and realities

While the investment potential of Canada’s defense sector is clear, execution challenges remain. Coverage from the Globe and Mail’s Norma highlights that sentiment among executives is both wary and optimistic.

Canada’s procurement system has a long history of delays and cost overruns, and scaling up production capacity, especially outside US-integrated supply chains, will take time.

Smaller firms warn that slow procurement cycles can threaten their survival, while larger players see clear opportunities in space systems, advanced training and construction for aircraft and naval vessels.

However, RBC analysts warn that funding via higher taxes or debt could dilute the economic benefit, particularly if spending displaces other high-multiplier programs.

Investor takeaway

The ‘Buy Canadian’ directive could offer a rare moment for investors to position themselves early in a sector poised to be reshaped by unprecedented spending and technological advancement.

The sheer scale of the commitment signals a transformative period.

If effectively implemented, Carney’s plan could ignite a multi-decade boom in Canada’s defense sector, expanding opportunities well beyond traditional defense stocks and into aerospace, cybersecurity and dual-use technologies.

However, as Michael M. Smith, COO at Canadian venture capital firm ONE9, wrote for the Windsor Star:

“A new mandate alone will not transform the system if those executing it remain tethered to the same institutional caution. True reform will require individuals willing to challenge orthodoxy even when it carries political cost, those who will reject legacy processes and bloated vendor ecosystems in favour of speed, survivability, and sovereign capability.”

While the pathway may present hurdles, the foundational policy and capital are in place for a dynamic new era in Canadian defense.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investing

Trump’s Copper Tariffs: Market Impact and How to Invest

Tariffs have been central to Donald Trump’s presidency even before he assumed office at the start of 2025.

From his perspective, levies on nearly all US imports are meant to balance a trade deficit with major partners, including Canada, Mexico, the EU and the UK, while stimulating domestic production in key sectors.

Trump has put forward other reasons for tariffs as well, saying he wants to stem the flow of illegal drugs and immigration, and mentioning broader national security concerns. How effective tariffs would be at controlling these issues is unclear, but they have sown uncertainty and chaos through global financial markets.

In the copper sector, tariff turmoil has created price volatility and left investors wondering how to position.

Trump’s copper tariffs cause price turmoil

On February 25, not long after taking office for the second time, Trump initiated an investigation into copper’s national security implications under Section 232 of the Trade Expansion Act of 1962.

Further details came months later, when the president provided an update on on July 8.

“I believe the tariff on copper, we’re going to make 50 percent,” Trump said during a White House cabinet meeting.

His comments came without an official announcement, although Secretary of Commerce Howard Lutnick said the tariff could take effect by late July or early August. This lack of clarity caused copper prices on the Comex to surge as traders worked to bring the metal into the US ahead of potential levies.

Copper price, January 1, 2025, to August 25, 2025.

Chart via Comex Live.

Ultimately, the Trump administration said on July 30 that copper tariffs would only be applied to unrefined copper, semi-finished and copper-intensive derivatives like pipe fittings, cables, connectors and electrical components.

Refined copper will be phased in at 15 percent in 2027 and 30 percent in 2028.

The move essentially pulled the rug out from prices and caused Comex copper to plummet nearly 25 percent.

Will copper tariffs boost US production?

Copper is increasingly being viewed as a critical mineral, and there are clear reasons why the US would want to increase production of the metal. But what do Trump’s tariffs really mean for supply?

Taking a look at how US steel and aluminum tariffs played out in 2018, during Trump’s first presidency, could provide insight. A March article published by Reuters analyzes the overall impact of those tariffs.

Prices started to rise in the lead up to the expected tariff deadline, similar to what happened with copper this time around, as importers began stockpiling products ahead of fee implementation. Steel prices rose 5 percent within a month of the tariffs being applied, while aluminum prices rose 10 percent. While they began to fall after just a few months, there was still a significant gap between prices for these products in the US and the rest of the world.

There were also more pronounced fluctuations between US and world prices as COVID-19 pandemic supply chain disruptions further impacted the steel and aluminum sectors.

While the steel and aluminum tariffs did stimulate domestic production of these materials, they ultimately weren’t enough to overcome the price differential, as increased US output also faced headwinds.

The US is facing these same challenges with copper production. According to the US Geological Survey, in 2024 the US produced 1.1 million metric tons of unrefined copper and 850,000 metric tons of refined products. The US also exported 320,000 metric tons of concentrates and 60,000 metric tons of refined copper.

However, US demand requires 1.8 million metric tons of refined product annually, more than double US capacity — that’s a key reason why refined products were exempted from tariffs.

“The US does not have the capacity to produce all the copper that we consume. While there have been investments in new mining capacity, these facilities will take years to come online, leaving US businesses reliant on copper imports for at least the near term.’

Although copper is classified as a critical mineral in the US, expanding existing operations will take years, and the time from discovery to opening a new mine could still take more than a decade.

One project nearing completion is Taseko Mines’ (TSX:TKO,NYSEAMERICAN:TGB) Florence property in Arizona. The company acquired the asset in 2014, but a March 2023 technical report shows exploration dates back to the 1970s. After environmental assessments, permitting and the building of a test facility between 2017 and 2020, Taseko started full-scale construction of the mine in 2024, with the expectation that operations will begin in late 2025.

Likewise, new smelting operations will not come online until after the first phase of tariffs on refined copper are added in 2027. The newest smelter in the US is Aurubis’ (OTC Pink:AIAGF) Richmond facility in Augustus, Georgia. The facility was designed to domesticate some of the more than 900,000 metric tons of scrap copper exported from the US to smelting facilities overseas each year. Construction took four years and US$800 million.

Once operational, the plant will produce 70,000 metric tons of refined copper annually, which is less than 10 percent of annual copper imports to the US.

Copper tariffs could weigh on other industries

Time isn’t the only factor hindering the expansion of US copper production.

Mining is an energy-intensive business, and as demand for electricity grows, copper smelters may have to compete with other entities, similar to what happened in the steel and aluminum sector in 2019.

An April McKinsey report suggests that US power demand will grow at a CAGR of 3.5 percent, increasing from around 4,000 terawatt hours (TWh) in 2025 to about 5,000 TWh in 2030 and 7,000 TWh by 2040.

The report states that this increased demand could lead to bottlenecks as providers are faced with supply chain issues and shortages of dispatchable power as new projects face delays due to labor shortages and multi-year lead times for necessary equipment. It also notes that retail electricity bills have increased 6 percent per year since 2020.

The alternative for the copper sector would be to incur further capital costs by investing in off-grid capacity — this might also be affected by tariffs, as has been seen with photovoltaic imports.

The Reuters report evaluating steel and aluminum tariffs notes that the fees were ultimately lifted in 2019 due to the high cost of electricity and limited demand. The downstream effects meant that the manufacturing, construction and transportation industries faced higher costs, reducing growth in those sectors.

Likewise, a small uptick of about 8,000 jobs in the steel and aluminum sectors was outweighed by losses in other industries as companies sought to offset higher costs through efficiency gains.

One study concluded that the tariffs resulted in the loss of 75,000 manufacturing jobs.

Although the bulk of copper tariffs will be phased in starting in 2027 and 2028, that may not provide enough lead time to build new operations and ensure they have the inputs they need to carry out business.

If applied incorrectly, tariffs could have significant consequences for industries that rely on the red metal, including tech and construction, while also impacting overall economic growth.

“Tariffs will increase the cost to US importers and consumers of copper and related products, and will put downside pressure on potential growth,” Saidel-Baker said.

What should investors know about copper tariffs?

For investors interested in copper, the long-term picture is key.

Although Trump’s scaled-back tariff announcement caused a price pullback, demand for copper is expected to significantly outweigh supply in the coming years, with experts calling for consumption from the tech industry and energy transition to add to growing requirements from urbanization in the Global South.

Whether tariffs will provide a competitive advantage for copper companies already producing and serving the US market remains to be see, but some market watchers see potential for that to happen.

For example, Morgan Stanley (NYSE:MS) upgraded its price target for Freeport-McMoRan (NYSE:FCX) to US$48 on August 11. In its reasoning, Morgan Stanley said that the market is not currently appreciating the benefits Freeport will gain from the tariffs, also noting that it will be able to raise pricing for 2026 copper rod contracts, a semi-finished product, which accounts for the majority of the company’s North American sales volume.

Robert Friedland, founder and co-chair of Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF), has come out in support of the tariffs, suggesting that they will help to rebuild the US copper industry. His reasoning is based on the national security issues inherent to having a single country dominate nearly 50 percent of the market of such a critical mineral.

Tariffs apply a new layer of uncertainty to an already challenging copper supply scenario. If tariffs are phased in gradually and industry is given the proper amount of time and investment, it could lead to a resurgence in US copper production and be a boon for those projects already in development; if not, then it could be a replay of 2018.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com