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PRE-OPEN Canadian markets are flat ahead of interest rate decisions from the Bank of Canada and the U.S. Federal Reserve, with markets squarely focused on the outlook from policymakers navigating the ongoing war in the Middle East. The key policy rate is expected to remain unchanged at 2.25%. Meanwhile, U.S. stock index futures inched higher.

Gold registered its third consecutive daily decline on Wednesday, with futures shedding $52.30, or 1.13%, to settle at $4,557.30 per ounce the weakest close of the month of April and a level that has erased more than $230 in value since the metal touched its year-to-date high. Spot gold finished the session near $4,567, cementing what is shaping up as the most painful week for bullion since March.

Gold registered its third consecutive daily decline on Wednesday, with futures shedding $52.30, or 1.13%, to settle at $4,557.30 per ounce the weakest close of the month of April and a level that has erased more than $230 in value since the metal touched its year-to-date high. Spot gold finished the session near $4,567, cementing what is shaping up as the most painful week for bullion since March.

Independent valuation opinion with listed comparables, precedent transactions and sum-of-the-parts analysis

The ceasefire between the U.S. and Israel and Iran is beginning to turn the conflict into a prolonged one, which markets don’t seem to fully grasp, and while the bull market for gold should resume once the impacts become apparent, silver’s demand picture is mixed due to persistently high prices, according to precious metals analysts at Heraeus.

TSX-V-listed Magna Mining continued to execute on its underground development plan in the three months ended December 31, the company’s fourth quarter of full year 2025, with increased diamond drilling and stope availability at the McCreedy West copper/nickel/precious metals mine in Sudbury, Ontario, Canada, CEO Jason Jessup says.

Idaho is a Mining State

Independent valuation opinion with listed comparables, precedent transactions and sum-of-the-parts analysis

Although the ongoing war has injected significant uncertainty into the precious metals market, commodity analysts at the World Bank see gold and silver prices capped near current levels through 2026.