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Carney’s Liberals Lead by 11 Points

One year into Mark Carney’s tenure as prime minister, 42% of Canadians say the country is headed in the right direction — and they are 30 points more optimistic about Canada than they are about the rest of the world, the widest such gap since Carney took office.

A new Abacus Data survey of 1,931 adults, conducted March 4–11, puts the Liberals 11 points ahead of the Conservatives — their widest national margin since August 2021.

Government approval has climbed 15 points over the past year, from 41% to 56%. More respondents said the Liberals deserve re-election than said it was time for a change. Margin of error was ±2.2%.

You can read more on the matter here.

What’s going on?

• It’s Not a Crime to Tweet Stupid Things, Musk’s Lawyers Tell Jury (theDeepDive)

• Canada inches closer to a lost decade for house prices after factoring in inflation (Globe)

• DOJ Responds to Anthropic in Pentagon Lawsuit, Calls Blacklist ‘Lawful and Reasonable’ (theDeepDive)

• Trump administration is deporting parents without their children in violation of its own policies, report finds (TG)

• ‘We Don’t Trust Her’: Democrats Blow Up Epstein Briefing, Force Bondi Toward Sworn Testimony (theDeepDive)

• Denmark was ready to blow up Greenland runways if US invaded (FT)

• Iran Sets Up $2M Toll for Safe Passage Through Strait of Hormuz as Governments Negotiate Access (theDeepDive)

• Democrats Walk Out of Bondi Meeting on Epstein Files (WSJ)

• US National Debt Crosses $39 Trillion as Iran War Costs Mount (theDeepDive)

What’s the latest?

• Commodities: Gold and silver saw sharp sell-offs amid Iran war-driven volatility, with spot gold dropping ~5% to ~$4,600/oz and gold futures ~−6%, while silver fell 6–10% to ~$70/oz. Mining stocks and ETFs also plunged (e.g., ProShares Ultra Silver −20%, iShares Silver Trust ~−10%). The decline comes despite prior 2025 rallies (+66% gold, +135% silver), as investors sell even “safe-haven” assets amid inflation fears, rising oil prices, and a stronger U.S. dollar.

• Oil: Oil surged as the Iran war escalated, with Brent briefly >$119 before settling at $112.20 (+4.5%) and WTI at $96.23 (+0.8%), raising fears of prolonged supply disruption and inflation.

• Markets: Markets fell amid rising Middle East tensions, with Canada’s S&P/TSX −521.12 to 31,791.55 and U.S. indexes down (Dow −345.98; S&P 500 −36.23; Nasdaq −134.87). The Canadian dollar slipped to 72.85¢ USD (from 72.96¢), while oil rose to $96.59/barrel (+$1.14) and gold dropped sharply by $286.10 to $4,610.10/oz.

• War: Iran escalated attacks on Gulf energy infrastructure, pushing Brent crude as high as $118 (+60% since the war began) and European natural gas prices up 17% in a day (doubling over a month). Strikes hit facilities in Qatar, Saudi Arabia, UAE, and Kuwait, further disrupting supply as the Strait of Hormuz (≈20% of global oil flow) remains constrained. The conflict has caused 1,300+ deaths in Iran, 1,000+ in Lebanon, and 15 in Israel, while the U.S. is reportedly seeking $200B in additional war funding.

• Real Estate: U.S. new home sales fell 17.6% to 587,000 units in January (lowest since Oct. 2022), far below expectations of 720,000, with sales down 11.3% YoY. Inventory rose to 476,000 homes, increasing supply to 9.7 months (from 8.0), while the median price dropped 6.8% to $400,500. Higher mortgage rates tied to rising yields and oil prices, along with high costs and limited supply of labor and land, are weighing on the housing market.

Gunnison Copper PEA

The stock market and stuff

• Iran Attack Slashes 17% of Qatar’s LNG Capacity, Disrupting Global Supply for Up to Five Years (theDeepDive)

• Artemis Gold Restarts Blackwater Mill After Week-Long Outage (theDeepDive)

• Chinese EV maker BYD in talks to open Canadian dealerships, consultant says (Globe)

• Teck’s Hidden Royalty on Barrick’s Fourmile Gold Project Could Slash IPO Valuation (theDeepDive)

• Freeport Targets $7.5 Billion Expansion of El Abra Copper Mine in Chile (theDeepDive)

In the juniors

• Gold Royalty’s Net Loss Persists In Q4 2025 Despite Record Revenue (theDeepDive)

• Canada’s LNG Boom Drives 48% Surge in Natural Gas Production by 2050, Says Energy Regulator (theDeepDive)

• Tudor Gold Abandons Legal Challenge To KSM Mitchell Treaty Tunnels (theDeepDive)

FULL DISCLOSURE: Silver47 Exploration is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Silver47 Exploration. The author has been compensated to cover Silver47 Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.