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Gold Funds See Record $4.5B Inflow

Gold investment funds have recorded their largest four-week inflow on record, hitting $4.5 billion by February, according to Bank of America Global Research data, as investors flock to the safe-haven asset amid market uncertainty.

The precious metal traded at $2,915 per ounce on Tuesday, up 0.78%, hovering near the $2,900 level as the strong investment trend continues.

Gold prices have climbed steadily since late December, when the metal traded around $2,558, according to chart data. After reaching highs near $2,950 in mid-February, prices have entered a consolidation phase while maintaining levels above key moving averages.

You can read more on the matter here.

What’s going on?

• Trump Jacks Up Tariff On Canadian Steel & Aluminum To 50% (theDeepDive)

• B.C. removes all U.S. liquor from store shelves: Trump can ‘keep his watery beer’ (Global)

• Emerge Canada: Cathie Wood-Linked ETF Firm Accused of Diverting Investor Funds (theDeepDive)

• Canadians in US for over 30 days will be required to register with government (ABC)

• RBC Cuts Jobs in Reorganization Ahead of New ‘Growth Strategy’ (theDeepDive)

• Fewer than 40% of 400,000 registered Liberals voted in leadership race (Globe)

• Trump Charges $5 Million for Private Meetings at Mar-a-Lago (theDeepDive)

• Philippines’ ex-president Rodrigo Duterte arrested over drug war killings (FT)

• Musk Says US ‘Really Should’ Leave NATO (theDeepDive)

• Spain to impose massive fines for not labelling AI-generated content (Reuters)

• Canada Unveils $490-Million Push Towards Nuclear Energy (theDeepDive)

• Ukraine Hits Moscow With Biggest Ever Drone Attack (WSJ)

What’s the latest?

• Nissan: Nissan CEO Makoto Uchida is stepping down after the company projected an 80 billion yen ($540 million) loss for the fiscal year. Ivan Espinosa, currently chief planning officer, will take over as CEO on April 1. Uchida’s tenure saw declining sales in key markets, a halted Honda partnership, and a 9,000-job cut. Nissan also announced sweeping leadership changes, including new roles for Guillaume Cartier, Eiichi Akashi, and Teiji Hirata.

• Canadian Dollar: The Canadian dollar fell 0.6% to $1.4521, its weakest since March 4, after U.S. President Trump announced a 50% tariff on Canadian steel and aluminum. Traders now fully expect the Bank of Canada to cut interest rates by 25 basis points on Wednesday, with yields on Canada’s 10-year debt dropping to 2.94%. Speculative traders hold a $10 billion short position on the loonie, and analysts predict further declines if tariffs remain. Rabobank forecasts the Bank of Canada’s rate to reach 2.50% by year-end, with potential for the loonie to drop another 6% if broad tariffs are imposed.

• Alberta: Alberta Premier Danielle Smith is in talks with a multinational firm to sell two million barrels per month of province-owned heavy oil. The province will collect bitumen royalties in oil instead of cash, allowing Alberta to market and sell significant petroleum volumes directly. The strategy aims to attract private investment and strengthen Alberta’s influence in the heavy oil market. This move comes as U.S.-Canada trade tensions rise, with recent tariff announcements from President Trump creating uncertainty.

• Ontario: Ontario is reassessing its trade strategy amid U.S. tariffs, aiming to expand overseas markets and attract foreign investment. The province conducts $500 billion in annual trade with the U.S. but now seeks to strengthen exports to other nations, leveraging its 14 international trade offices. Economic Development Minister Vic Fedeli highlights India as a key growth market, where Ontario’s exports rose from $400 million to $623 million. While overseas trade efforts continue, the immediate focus remains on addressing the economic impact of Trump’s tariffs.

• Tesla: Tesla’s stock has plummeted 45% in 2025, with a 15% drop on Monday to $222.15, amid falling sales and CEO Elon Musk’s controversial political stance. Trump defended Musk, accusing the “Radical Left” of colluding against Tesla, and pledged to buy one of his cars, leading to a 3% stock boost pre-market. Tesla sales have sharply declined globally, with a 45% drop in Europe, nearly halved sales in China, and weakening demand in California. Musk’s close ties to Trump and far-right politics, combined with rising EV competition, are cited as key reasons for Tesla’s struggles.

PDAC 2025

The stock market and stuff

• ARC Resources Enters 20 Year Sale And Purchase Agreement With ExxonMobil For Cedar LNG Offtake (theDeepDive)

• Shares of ‘Big Three’ U.S. airlines tumble as forecast cuts spook investors (Globe)

• Couche-Tard Plans To Shed Key Assets to Pave Way for Landmark 7‑Eleven Deal (theDeepDive)

In the juniors

• Endeavour Silver Closes 2024 With Strong Cash Flow But Widening Losses (theDeepDive)

• Nuclear Power’s Future: The Case for Uranium in North America | Nick Luksha – Mustang Energy (theDeepDive)

• Eloro Resources Drills 151 g/t Silver Over 135 Metres At Iska Iska (theDeepDive)

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