Cassiar Gold Corp. (TSXV: GLDC, OTCQX: CGLCF)
Revitalizing the Cassiar Gold District in British Columbia, Canada
US President Donald Trump decided to postpone the tariffs on Canada and Mexico for a 30-day delay on Monday, according to Financial Times. As Trump’s previous announcement of the tariffs sparked concerns about inflation and economic growth, gold hit record highs, fuelled by safe-haven demand.
Spot gold prices rose 0.8 per cent to $2,818.99 an ounce, hitting an all-time high of $2,830.49 during the session.
Bart Melek, head of commodities strategy at TD Securities, said that if this trade war continues for a considerable period of time, it could lead to a significant move higher in gold prices in the future. Gold is often seen as a safe-haven investment during times of economic or geopolitical instability.
Analysts at JPMorgan see disruptive tariffs as a reason to be bullish on the precious metal in the medium term. Not only because of the inflationary effects inherent in the U.S. economy, but also because an increasingly hawkish U.S. foreign policy could accelerate de-dollarisation plans.
Analysts point out that trade war fears have already shaken the precious metals market, causing dealers and traders to rush large quantities of metals to the U.S. before the tariffs are imposed. The disruption has also led to a spike in lease rates for gold and silver.
Goldman Sachs strategist David Kostin wrote in a report that U.S. stocks are likely to fall 5 per cent in the coming months as the Trump administration’s latest round of tariffs weighs on corporate earnings forecasts. Lori Calvasina, capital markets strategist at Royal Bank of Canada, also warned that the likelihood of the S&P 500 falling 5 per cent to 10 per cent after the tariffs are announced has increased against a backdrop of high investor exposure and high stock valuations.
Goldman Sachs sees escalating trade tariffs and US debt issues as the main risk factors driving gold prices higher, which are expected to reach $3,000 per ounce by the second quarter of 2026.
In 2025, gold prices are expected to post their best annual performance in nearly a decade, the World Gold Council said in its latest report, Gold Outlook 2025. After a strong rise in recent years, the growth of the gold market may slow down in 2025, but there is still upside.
Spot silver prices were up 0.8 per cent at $31.56 an ounce on Monday; platinum was down 1.5 per cent at $963.40; and palladium was up 0.5 per cent at $1,012.85.
