Steel, Silver, and Signals of a Shift
Steel, Silver, and Signals of a Shift
Steel, Silver, and Signals of a Shift
Progress, not perfection. Prime Minister Carney’s Washington visit didn’t land a steel deal, but it cracked open the door to real trade progress and possibly even a pipeline revival. Meanwhile, silver is outshining gold with a year-to-date surge of more than 75%, as investors flock to safety amid macro jitters and market froth. It’s a week of quiet moves with loud implications.
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4 Minute Read:
Here's how some major markets/indexes performed in the last 5-days:
- Dow Jones: 45,563 (-2.59%)
- Nasdaq 100: 24,304 (-2.71%)
- TSX: 29,908 (-2.37%)
- BTC: 116,355 (-5.72%)
- Ethereum: 3,970 (-12.07%)
(USD)
As of 10/10/2025 at 12:40PM PST
Trade thaw, not quite a breakthrough
What happened:
Prime Minister Mark Carney met with President Trump in Washington this week for high-stakes talks on tariffs and trade. While no immediate relief was granted on steel and aluminum duties, both leaders agreed to advance technical discussions and fast-track negotiations on sector-specific deals. One unexpected twist? Sources say the Keystone XL pipeline was quietly floated during the meeting, marking a possible shift in U.S. energy stance.
Catch up:
This comes as Canada faces a 50 percent tariff on steel, a 25 percent levy on vehicles, and mounting pressure from manufacturers and premiers to de-escalate trade tensions.
Why it matters:
The tone of the talks was notably more productive than past encounters, and the commitment to continued dialogue signals a real chance at progress. If Keystone XL talks gain traction and smaller industry deals come together, this could lay the foundation for a more comprehensive trade reset.
Bottom line:
No deal yet, but the political climate is warming. Carney’s team is staying behind in D.C. to keep momentum going, and the path to a partial trade breakthrough is starting to look realistic.
As silver prices reach a ten-year high, Kootenay Silver (TSX.V: KTN, OTC: KOOYF) stands out with one of the largest junior-owned silver resources and a new high-grade discovery in Mexico.
ATEX Resources (TSX.V: ATX, OTCQB: ATXRF) is making significant strides toward what could be one of the largest high-grade copper discoveries of this decade, located in Chile, the global hub for copper mining.
Silver Steals the Spotlight
What happened: While gold continues to dominate headlines, silver is staging an even more impressive rally. The metal surged again on Friday, nearing record territory after rising more than 75% year-to-date. Prices climbed to $50.96 per ounce, up over 3.5% in a single day, driven by tightening supply and a spike in safe-haven demand.
Why it matters: Investors are increasingly turning to silver as a hedge against a volatile macro backdrop. Market concerns about U.S. fiscal stability, overheated equities, and pressure on the Federal Reserve are all adding momentum to the surge. On top of that, a historic squeeze in London’s spot market is amplifying the rally.
Zoom out: Silver often tracks gold during times of uncertainty, but with a lower price point and growing industrial demand — especially in tech and solar — silver’s outsized gains could signal broader concerns around inflation, market stability, and central bank independence.
Harvest ETFs’ HHIC offers exposure to Canada’s leading businesses with a focus on high monthly income and consistent performance.
📢 This Week's Selected Company News:
G Mining Ventures Secures $481M for Oko West Construction
G Mining Ventures (TSX: GMIN, OTCQX: GMINF) has finalized a US$481 million financing package, including a senior secured credit facility and equipment lease agreements, to support the full construction of its flagship Oko West gold project in Guyana. The capital injection marks a critical step toward project execution as the company moves into the development phase.
AMD and OpenAI Ink Multi-Gigawatt AI Partnership
AMD and OpenAI have entered a strategic agreement that will see OpenAI deploy up to 6 gigawatts of AMD Instinct GPUs to power its next-generation AI infrastructure. The first 1 gigawatt will begin rolling out in 2026, with AMD also issuing OpenAI warrants tied to performance milestones. The deal is expected to generate tens of billions in revenue and deepen hardware-software collaboration between the two firms.
Angkor Resources Identifies First Drill Target in Cambodia’s Block VIII
Angkor Resources (TSXV: ANK) has received encouraging preliminary seismic results from the South Bokor Basin within Block VIII, Cambodia, revealing a significant anticline structure dubbed the “South Bokor Lead.” Spanning roughly 48 square kilometers, the structure marks the first confirmed drill target in the basin, representing a potential milestone toward Cambodia’s first commercial onshore oil and gas discovery. Full seismic interpretation across the remaining basins is expected by year-end, with drill planning on the horizon.
📬 That’s a wrap for this week!
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