Canada: Gold price surge supports exports – RBC

Source Fxstreet

Royal Bank of Canada economist Salim Zanzana notes that higher Gold prices and expanded access to foreign markets helped cushion Canada’s exports in the face of U.S. tariff pressures. He explains that nominal exports fell only slightly in 2025, with stronger non-U.S. demand, especially from the U.K., offsetting weaker U.S. trade flows driven by tariffs.

Gold strength offsets tariff headwinds

"Diversifying exports outside of the United States has emerged as a critical offset to tariff pressures for Canada with higher gold exports exaggerating gains from foreign markets Canadian exports fared better than expected last year, declining by just 0.8% year-over-year on a nominal basis."

"A rise in exports to non-U.S. markets, particularly the U.K., emerged as a counterbalance to weaker U.S. exports due to tariffs."

"The increase had more to do with a price surge in gold exports, and the new TMX pipeline increasing export capacity outside of North America."

"Canada experienced a more significant 2% decrease in overall merchandise exports last year when adjusting for price changes."

"Tariff pressures weighed more heavily on manufacturing-intensive provinces like Quebec and Ontario, while energy-producing and some agricultural exporting provinces benefitted more from gains outside the U.S."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Pundit Predicts What Will Happen To XRP When Exchanges Run Out Of SupplyXRP’s supply mechanism is one of the most controversial talking points in the crypto market. XRP exchange reserves have been falling for months, and the on-chain numbers are glaring. Now, a crypto
Author  NewsBTC
14 hours ago
XRP’s supply mechanism is one of the most controversial talking points in the crypto market. XRP exchange reserves have been falling for months, and the on-chain numbers are glaring. Now, a crypto
placeholder
Trump administration weighs AI model reviews as tech giants race to ship fasterThe Trump administration is looking at a new order that would let US security agencies check powerful AI models before companies put them out for the public. The plan came up in a White House briefing led by the Office of the National Cyber Director. The meeting included OpenAI, Anthropic, and Reflection AI, all private...
Author  Cryptopolitan
14 hours ago
The Trump administration is looking at a new order that would let US security agencies check powerful AI models before companies put them out for the public. The plan came up in a White House briefing led by the Office of the National Cyber Director. The meeting included OpenAI, Anthropic, and Reflection AI, all private...
placeholder
Why Strategy’s record accumulation isn’t saving BTC’s price?Strategy Inc. now holds more Bitcoin than any other institution, but Bitcoin prices have still fallen to a three-week low. The company bought 171,238 BTC this year, far more than the roughly 62,000 BTC mined globally during the same period. Strategy is buying Bitcoin nearly three times faster than miners can produce it, yet prices...
Author  Cryptopolitan
14 hours ago
Strategy Inc. now holds more Bitcoin than any other institution, but Bitcoin prices have still fallen to a three-week low. The company bought 171,238 BTC this year, far more than the roughly 62,000 BTC mined globally during the same period. Strategy is buying Bitcoin nearly three times faster than miners can produce it, yet prices...
placeholder
Gold Price Risks 6% Drop as Smart Money Quietly Sells the TopGold price sits at $4,491 below most of its short-term moving averages, with commercial hedgers stacking shorts at the top while speculators add longs.The breakdown sits inside a five-month falling ch
Author  Beincrypto
14 hours ago
Gold price sits at $4,491 below most of its short-term moving averages, with commercial hedgers stacking shorts at the top while speculators add longs.The breakdown sits inside a five-month falling ch
placeholder
Nvidia Shares Gain as Chipmaker Tops Estimates on 85% AI Revenue SurgeNvidia delivered another blockbuster quarter, beating Wall Street estimates on revenue, earnings, and data center growth as global demand for AI infrastructure accelerated.The chipmaker’s results rein
Author  Beincrypto
14 hours ago
Nvidia delivered another blockbuster quarter, beating Wall Street estimates on revenue, earnings, and data center growth as global demand for AI infrastructure accelerated.The chipmaker’s results rein
Related Instrument
goTop
quote