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A senior federal judge in Massachusetts who was appointed by former President Reagan announced he has resigned in protest against President Donald Trump, who he says has been ‘using the law for partisan purposes.’

U.S. District Judge Mark L. Wolf, 78, resigned on Friday and explained that the Trump administration’s actions that he described as threatening the rule of law compelled him to speak out.

In a piece for The Atlantic, Wolf wrote that he had looked forward to serving for the rest of his life when Reagan appointed him in 1985 but decided to step down last week because of Trump’s ‘assault on the rule of law’ that he finds ‘so deeply disturbing.’

‘I no longer can bear to be restrained by what judges can say publicly or do outside the courtroom,’ the former judge wrote. ‘President Donald Trump is using the law for partisan purposes, targeting his adversaries while sparing his friends and donors from investigation, prosecution, and possible punishment. This is contrary to everything that I have stood for in my more than 50 years in the Department of Justice and on the bench. The White House’s assault on the rule of law is so deeply disturbing to me that I feel compelled to speak out. Silence, for me, is now intolerable.’

‘When I accepted the nomination to serve on the U.S. District Court in Massachusetts, I took pride in becoming part of a federal judiciary that works to make our country’s ideal of equal justice under law a reality,’ he continued. ‘A judiciary that helps protect our democracy. That has the authority and responsibility to hold elected officials to the limits of the power delegated to them by the people. That strives to ensure that the rights of minority groups, no matter how they are viewed by others, are not violated. That can serve as a check on corruption to prevent public officials from unlawfully enriching themselves. Becoming a federal judge was an ideal opportunity to extend a noble tradition that I had been educated by experience to treasure.’

Wolf added that he now wants to do ‘everything in my power to combat today’s existential threat to democracy and the rule of law.’

The former judge noted that Trump cannot replace him with a nominee of his own, as former President Obama named Judge Indira Talwani as his successor in 2013.

Wolf criticized the Department of Justice’s prosecutions of former FBI Director James Comey and Democrat New York Attorney General Letitia James. The former judge also took issue with Trump’s social media post in which he asked Attorney General Pam Bondi to prosecute Comey, James and Sen. Adam Schiff, D-Calif.

He also said that even if a prosecution ends in an acquittal, it ‘can have devastating consequences for the defendant.’

Wolf also wrote that the DOJ must ensure prosecutors do not seek an indictment unless they have ‘sufficient admissible evidence to prove guilt beyond a reasonable doubt.’

‘Trump has utterly ignored this principle,’ Wolf wrote.

Wolf blasted Trump’s ‘unconstitutional or otherwise illegal’ executive orders, criticized the president’s calls for judges to be impeached for ruling against him, said there was ‘corruption by [Trump] and those in his orbit’ and emphasized that attacks on the courts have led to actual threats against judges.

‘I resigned in order to speak out, support litigation, and work with other individuals and organizations dedicated to protecting the rule of law and American democracy,’ Wolf wrote. ‘I also intend to advocate for the judges who cannot speak publicly for themselves.’

‘I cannot be confident that I will make a difference,’ he added. ‘I am reminded, however, of what Senator Robert F. Kennedy said in 1966 about ending apartheid in South Africa: ‘Each time a man stands up for an ideal, or acts to improve the lot of others, or strikes out against injustice, he sends forth a tiny ripple of hope.’ Enough of these ripples can become a tidal wave.’

The U.S. District Court for the District of Massachusetts said Wolf’s ‘steadfast commitment to the rule of law, determination in wrestling with novel issues of fact and law, and dedication to making fair, equitable and legally sound decisions without fear or favor are the hallmarks of his time on the bench.’

‘His many opinions on complex issues of law in notable cases have had a great impact on jurisprudence,’ Chief Judge Denise J. Casper said in the statement. ‘In addition, his tenure as Chief Judge led to the increased engagement with the bar and community, including the initiation of the Court’s bench/bar conference and his continued support of the Court’s Fellowship Programs. I, along with my colleagues and this Court community, applaud his years of dedicated service.’

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President Donald Trump called on Netflix to fire board member Susan Rice immediately or ‘pay the consequences.’

Trump’s comments followed remarks Rice made Thursday on the ‘Stay Tuned with Preet’ podcast, hosted by former U.S. Attorney Preet Bharara. 

During the interview, Rice warned that corporations she said had ‘taken a knee’ to Republican pressure should not expect forgiveness from Democrats if they return to power.

‘This is not going to be an instance of forgive and forget. The damage that these people are doing is too severe to the American people and our national interest,’ Rice said.

It was not immediately clear what specific actions the Trump administration might pursue.

Netflix did not immediately respond to a Fox News Digital request for comment.

Rice made the remarks while discussing what she described as corporate retreats from diversity and governance commitments amid pressure from Republican lawmakers.

‘If these corporations think that the Democrats, when they come back into power, are going to, you know, play by the old rules, and, you know, say, ‘Oh, never mind. We’ll forgive you for all the people you fired, all the policies and principles you’ve violated, all, you know, the laws you’ve skirted.’ I think they’ve got another thing coming,’ Rice added.

Rice, a former U.S. ambassador to the United Nations, predicted an ‘accountability agenda’ awaited those entities, forecasting an electoral shift in the upcoming midterm elections. 

She also pointed to waning public approval for Trump’s economic and immigration policies in making her case.

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Statistics Canada released September’s job data on Friday (October 10). According to the release, 60,000 jobs were added to the Canadian economy during the month, and the employment rate increased to 60.6 percent, up 0.1 percent from August. However, the unemployment rate remained unchanged at 7.1 percent.

The increase in the labor market follows a significant decline of 106,000 combined jobs over the previous two months.

Leading the gains was the manufacturing sector, which added 28,000 jobs to the labor force. The increase was followed by 14,000 new workers in the health care and social assistance sector, and 13,000 new roles in the agriculture sector.

The natural resources sector posted a 2.2 percent gain, adding 7,100 new jobs over August’s numbers, but the sector shed 18,200 workers over September 2024.

Earlier in the week, StatsCan released a report on the economic contribution of critical mineral production in 2023 on Monday (October 6).

In 2023, critical mineral production contributed C$30.2 billion in nominal gross domestic product (GDP) and C$20.9 billion in real GDP terms, which accounted for 1.1 percent of the total economy and 37.4 percent of the mineral and mining sector.

The report also details a nominal GDP increase of 63 percent and a real GDP growth of 12.7 percent between 2019 and 2023. During the same period, job growth increased by 6.2 percent, with the subsector employing nearly 55,000 workers, outpacing the entire mineral and mining sector and the broader economy, which grew by 5.2 percent and 5.6 percent, respectively.

South of the border, the White House announced on Monday that President Donald Trump approved the Ambler Access Road project in Alaska. This was followed by a 50 to 46 vote by the Senate on Thursday evening to repeal a land management plan for Alaska that had delayed development of the road.

The controversial project would connect the Dalton Highway to the Ambler Mining District via a route that passed through the Gates of the Arctic National Park, considered one of the United States’ best-preserved parks.

The access road was initially approved during Trump’s first term in office, but approvals were rescinded in 2024 under the Biden administration due to the impact on the Western Arctic caribou herd, salmon and other wildlife. The Native American Tribes who live, hunt and fish in the area have largely stood in opposition to the road.

Proponents point to access to critical minerals like copper and gallium, which have become a focal point as the US seeks to increase domestic production of these minerals, which are required for the advancement of AI technologies, data centers and national defense.

Both gold and silver soared to record highs this week, with the gold price reaching US$4,058.98 per ounce on Wednesday (October 8) and the silver price climbing to an intraday all-time high of US$51.14 per ounce on Thursday (October 9). While gold has been consistently setting new records in 2025, silver broke its all-time high set in 1980.

Precious metals have seen broad gains since the start of the year, fueled by widespread uncertainty in the global economy due to factors including chaotic US trade policy and, most recently, the failure of US lawmakers to agree on a funding package to prevent the federal government from shutting down.

For more on what’s moving markets this week, check out our top market news round-up.

Markets and commodities react

Canadian equity markets were mixed this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) halted its record-breaking run this week, losing 1.17 percent to close Friday at 29,850.89.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fared better, ending a volatile week up 1.75 percent at 980.77. The CSE Composite Index (CSE:CSECOMP) was up 2.2 percent to close out the week at 184.31.

The gold price set another new record, reaching an intraday high of US$4,058.98 per ounce on Wednesday. On the week, gold was up 3.39 percent to US$4,018.68 by Friday’s close.

The silver price saw even stronger gains, breaking its own all time high on Thursday at US$51.14 per ounce, before pulling back slightly to post a weekly gain of 4.27 percent to US$50.03 per ounce by 4:00 p.m. EDT Friday.

Copper was up as much as 3 percent on the week during trading Thursday, but the copper price collapsed on Friday, falling from US$5.10 to end the week at US$4.80 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) fell 0.71 percent to end Friday at 539.97.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Valhalla Metals (TSXV:VMXX)

Weekly gain: 282.35 percent
Market cap: C$44.59 million
Share price: C$0.65

Valhalla Metals is a polymetallic exploration company with a pair of projects in Alaska’s Ambler Mining District, the Sun and Smucker projects.

Its primary focus, the Sun project consists of 392 claims that cover an area of 25,382 hectares.

A May 2022 technical report states that the indicated resource for the project is 1.71 million metric tons of ore containing 55.85 million pounds of copper, 162.96 million pounds of zinc, 42.04 million pounds of lead, 3.3 million ounces of silver and 12,000 ounces of gold.

It also reported an inferred resource of 9.02 million metric tons containing 239.64 million pounds of copper, 831.33 million pounds of zinc, 290.26 million pounds of lead, 23.68 million ounces of silver and 73,000 ounces of gold.

The project is largely dependent on the construction of the 211 mile Ambler Access Road, which Trump approved in his first term. Former President Joe Biden rescinded the federal permit in 2024 due to environmental concerns, which is discussed in-depth above.

Shares in Valhalla surged this week after the Senate and the White House signaled support for the project. The company said in a news release on Tuesday (October 7) that it was excited by the reversal and will now be able to restart exploration and expand the known resources at the Sun Deposit.

2. Trilogy Metals (TSX:TMQ)

Weekly gain: 191.35 percent
Market cap: C$1.53 billion
Share price: C$8.42

Trilogy Metals is a polymetallic exploration and development company working to advance its Upper Kobuk mineral projects in Northern Alaska, which it owns in a 50/50 joint venture with South32 (ASX:S32,OTC Pink:SHTLF).

Its most advanced asset is the Arctic copper, zinc, lead, gold and silver project, which is in the feasibility stage. In an updated feasibility study from February 2023, the company reported annual payable production volumes of 148.68 million pounds of copper, 172.6 million pounds of zinc, 25.75 million pounds of lead, 32,538 ounces of gold and 2.77 million ounces of silver.

After tax, the study pegged the net present value at US$1.11 billion, with an internal rate of return of 22.8 percent and a payback period of 3.1 years.

Trilogy’s other key asset is the Bornite copper-cobalt project located 25 kilometers southwest of its Arctic project. The site hosts widespread mineralization and has seen historic exploration dating back to the 1950s.

A preliminary economic assessment for Bornite, dated January 15, established an after-tax net present value of US$393.9 million, with an internal rate of return of 20 percent and a payback period of 4.4 years. The updated mineral resource included with the report estimates an inferred resource of 6.53 billion pounds of copper with an average grade of 1.42 percent from 208.9 million metric tons of ore.

Like Valhalla’s, shares in Trilogy surged this week on the news that the US government approved construction of the Ambler Access Road.

Additionally, Trilogy reported on Monday that it had entered into a binding letter of intent, that would see the US Department of Defense invest US$17.8 million in Trilogy in exchange for 8.22 million shares, or 10 percent of the company, and will hold warrants for an additional 7.5 percent.

Both Trilogy and the DoD stated that they will work in good faith to facilitate financing for the construction of the road and will include permit applications for the FAST-41 process to expedite mining development.

3. ARES Strategic Mining (CSE:ARS)

Weekly gain: 180.65 percent
Market cap: C$184.54 million
Share price: C$0.87

Ares Strategic Mining is a development company advancing its Lost Sheep fluorspar mine in Utah, US, to production.

Initially acquired in 2020, the property consists of 353 claims across 5,982 acres south-west of Salt Lake City. The Lost Sheep fluorspar mine is currently in the construction phase and has received backing from the state of Utah and the federal government. It is the only permitted fluorspar mine in the country.

Ares reported on July 31 that it had launched a program with Iowa State University and the Ames National Laboratory to explore the potential of extracting gallium from the site in addition to fluorspar,

As part of this research, the company indicated on September 16 that it had also confirmed the presence of germanium within fluorspar samples from its Lost Sheep mine. The company said that the discovery has the potential to unlock additional critical mineral value from the project.

In its most recent construction update on September 11, Ares reported the Lumps plant has reached an advanced stage, with concrete foundations and pads being completed and steel frame structures being erected.

4. Nord Precious Metals (TSXV:NTH)

Weekly gain: 154.55 percent
Market cap: C$17.04 billion
Share price: C$0.42

Nord Precious Metals is focused on advancing its projects in Ontario, Canada, and owns the TTL silver gravity plant in the region.

The company’s primary exploration property is the Castle project located south of Timmins in the Cobalt Camp. It covers an area of 7,332.76 hectares and hosts the past producing Castle mine complex, which produced 9.4 million ounces of silver and 376,000 pounds of cobalt.

A 2021 mineral resource estimate revealed a total inferred silver equivalent resource of 7.57 million ounces, with an average grade of 7,149 grams per metric ton (g/t) silver, 2,537 g/t cobalt, 628 g/t of copper, and 467 g/t of nickel, from 32.9 million metric tons of ore.

The company also owns the past-producing Beaver Mine, located just east of Castle along the border between Ontario and Quebec. The mine operated until 1940 and produced 7.1 million ounces of silver.

The company has been working on the development of a tailings recovery program at the site, announcing on October 1 that test work produced commercial high-grade silver with concentrations up to 2,114.9 g/t.

Nord is planning to apply for a recovery permit to process tailings at its TTL gravity plant, which it plans to begin commissioning once it receives the permit.

The company said that the results validate the technical approach to the tailings program.

5. Avalon Advanced Materials

Weekly gain: 145.45 percent
Market cap: C$47.82 billion
Share price: C$0.135

Avalon Advanced Materials is an explorer and developer focused on lithium projects in Canada.

The company’s flagship project is its 40 percent owned Separation Rapids lithium project in Ontario, a joint venture with SCR-Sibelco, which owns the remaining 60 percent.

The project consists of three primary lithium targets: the Separation Rapids deposit; the Snowbank target, located near Kenora; and the Lilypad project near Fort Hope, which also hosts tantalum and cesium mineralization.

The pair increased the project’s measured and indicated resource by 28 percent in late February.

Avalon is also developing the Lake Superior lithium processing facility in Thunder Bay, Ontario.

The most recent news from Avalon came on Thursday when it reported that it had produced lithium hydroxide and analcime using an alkaline leach process developed by Finnish mineral processing company Metso.

The company said that early assessments indicate a 60 percent potential reduction in water use, along with a smaller carbon footprint compared to traditional methods. It stated that the achievement marked a milestone for the company to establish a sustainable lithium processing solution at its facility

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Bitcoin may soon share space with gold on central bank balance sheets, according to a new report from Deutsche Bank (NYSE:DB) that frames the cryptocurrency as an emerging reserve asset.

“There is room for both gold and Bitcoin to coexist on central bank balance sheets by 2030,” Marion Laboure and Camilla Siazon, both analysts at the firm, wrote in a note published on Monday (September 22).

Deutsche Bank’s report points to recent diversification trends in global central bank reserves.

The US dollar is still the dominant reserve currency, but it accounted for only 43 percent of holdings in 2024, down from 60 percent at the start of the century. Meanwhile, China reduced its US treasury holdings by US$57 billion last year.

Against this backdrop, both gold and Bitcoin are being positioned by market participants as hedges against inflation, geopolitical risk and questions about monetary sovereignty.

Gold has been a standout performer in 2025. The precious metal surged to a record of US$3,788.33 per ounce on Tuesday (September 23), capping a year-to-date rally of more than 40 percent and its largest gain in over four decades.

Central banks have been a driving force behind the rally, with a recent World Gold Council survey showing that 43 percent of monetary authorities plan to increase their gold reserves in the next 12 months.

Nearly all respondents, tallying 95 percent, expect global central bank gold reserves overall to continue rising.

Bitcoin, meanwhile, has faced short-term pullbacks, but has shown longer-term resilience. After topping US$123,500 in August, the cryptocurrency slipped below US$113,000 at the start of the week.

Yet analysts at Deutsche Bank highlight that its 30 day volatility hit historic lows even during record-breaking price runs, a sign that Bitcoin may be decoupling from its speculative reputation.

That adoption is evident in corporate balance sheets as well.

More than 180 companies have added Bitcoin or other crypto assets to their holdings, often modeling their strategy on Strategy’s (NASDAQ:MSTR) high-profile accumulation, led by Executive Chairman Michael Saylor.

Prominent public figures have also lent support. Eric Trump told Yahoo Finance ahead of last week’s interest rate cut from the US Federal Reserve that a reduction could help crypto “skyrocket,” framing digital assets as a key hedge.

While Deutsche Bank’s analysts acknowledge the risks tied to Bitcoin’s sudden swings, they said regulation and shifting macroeconomic conditions could accelerate its path to legitimacy.

The bank draws parallels between Bitcoin’s trajectory today and gold’s rise in the 20th century, suggesting that skepticism could eventually give way to acceptance. While the writers admit that neither asset is likely to dethrone the dollar, gold and Bitcoin could serve as complementary tools for monetary authorities seeking diversification.

Overall 2025 has been “excellent” for both gold and Bitcoin even if their price movements diverge.

“So long as we are human, Bitcoin and other alternative assets will likely continue to compete for our attention,” the Deutsche Bank note concludes.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

President Donald Trump turned up the heat on progressive Democrats during his public remarks Thursday, including slamming New York Rep. Alexandria Ocasio-Cortez for her ‘horrible’ efforts at diplomacy during the Munich Security Conference. 

‘Her performance was horrible,’ Trump told the media aboard Air Force One on the way to an event in Rome, Georgia, Thursday. ‘I was surprised, actually. I didn’t know she was stupid.’

Ocasio-Cortez joined the Munich Security Conference last weekend, and faced criticisms for a handful of ‘sputtering’ and ’embarrassing’ responses, including when she was asked, ‘Would and should the U.S. actually commit U.S. troops to defend Taiwan if China were to move?’

The progressive New York Democrat delivered an answer that included a handful of pauses, punctuated by repeatedly saying ‘uhm.’ 

She ultimately answered: ‘This is, of course, a very long-standing policy of the United States, and I think what we are hoping for is that we want to make sure that we never get to that point, and we want to make sure that we are moving in all of our economic research and our global positions to avoid any such confrontation and for that question to even arise.’ 

Vice President JD Vance called the response ’embarrassing,’ while social media corticis compared it to ‘Kamala cringe’ or that she ‘SELF-DESTRUCTED’ with her answer. 

Ocasio-Cortez is seen as a potential 2028 presidential contender, with Trump’s sharp critique of the left-wing Democrat lawmaker setting a tone for potential future campaign attacks. 

Ocasio-Cortez made a point to downplay 2028 speculation during the security conference. 

She said she joined the forum that attracts hundreds of world leaders, business titans and celebrities ‘not because I’m running for president, not because I’ve made some kind of decision about a horse race or a candidacy, but because we need to sound the alarm bells that a lot of those folks in nicely pressed suits in that room will not be there much longer if we do not do something about the runaway inequality that is fueling far-right populist movements.’

Earlier Thursday, when Trump held the first Board of Peace meeting, he described Ocasio-Cortez as a weak representation for the U.S. on the world stage. 

‘She was unable to answer a simple question. And she could have said, ‘Well, I’m studying it, and I’ll report back to you next week.’ You know, you can get away with that. But she just went ‘uhhh.’ I think it could be a career ending answer because for 25 years, anybody running against her, I think Susie is going to use that, that little piece of stuff. It was not good. It was not good. That was not a natural,’ Trump said. 

The White House told Fox News Digital on Friday that ‘Trump is always transparent with his thoughts, and he’s right – AOC should be working on behalf of the American people instead of embarrassing our country on the world stage.’

‘It’s ridiculous that third-rate congresswoman AOC decided to frolic around Munich, where no one knows or cares who she is, while New Yorkers are suffering as a result of Democrats’ shutdown, which is cutting off resources to FEMA, TSA, the Coast Guard, and thousands of federal law enforcement officers,’ White House spokeswoman Anna Kelly said. 

Trump, later that day during a steel event in Georgia, took a shot at Democrats who have promoted a message of ‘affordability.’ Left-wing Democrats such as New York City Mayor Zohran Mamdani carried out a successful campaign in 2025 on a message of lowering costs for New Yorkers, including by increasing taxes on some high-earners in the state. 

Trump has slammed the party for using the term, arguing sky-high inflation under the Biden era was caused by Democrat policies. 

Trump took aim at Democrats again on Thursday for their message of affordability, claiming he hasn’t heard the media specifically promote affordability in weeks because he ‘won affordability.’ 

‘I added $9 trillion, and your retirement accounts and 401 Ks are at the highest level they’ve ever been. And then I have to listen to the fake news talking about affordability. Affordability. Do you notice what word have you not heard over the last two weeks? Affordability. Because I’ve won, I’ve won affordability,’ he said on Thursday from Georgia. 

Fox News Digital reached out to Ocasio-Cortez’s office for additional comment Friday afternoon. 

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President Donald Trump said he’d be willing to extend his trip abroad to Asia if North Korea’s Kim Jong Un wants to meet with him.

‘But I’d love to meet with him if he’d like to meet. I got along great with Kim Jong Un. I liked him, he liked me,’ Trump said during a gaggle on Air Force One.

When asked if he’d extend his trip in order to meet with the North Korean figure, Trump indicated that he would be willing to do so.

The president had previously noted during a prior gaggle aboard Air Force One that he would be open to meeting with Kim Jong Un.

‘I got along very well with him,’ he said of the foreign leader.

North Korea is one of the few nations around the globe armed with nuclear weapons.

During his first term, Trump met with Kim Jong Un several times.

He even made history as the first sitting U.S. president to step into North Korea.

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It’s been yet another historic week for gold, as well as silver.

Gold broke through US$4,000 per ounce midway through the period, entering never-before-seen territory as the US government shutdown continued into a second week.

Silver’s milestone was perhaps even more impressive. The white metal pushed through the elusive US$50 per ounce mark and continued on past US$51, marking a new record.

What’s behind its takeoff? Silver is known for its duality as both a precious and industrial metal, and experts have emphasized that it’s a mix of factors moving silver right now. It’s catching up to gold, which itself is supported by global geopolitical uncertainty and concerns about fiat currencies, and it’s also got its own specific elements at play.

Backwardation, which happens when a commodity’s spot price is higher than its futures price, has been a frequent topic of discussion, and prior to silver’s move past US$50, precious metals analyst Ted Butler gave a rundown of the implications for silver.

Here’s what he said:

‘Normally, (backwardation) results in an overwhelming demand for physical. That could take the form of SLV investors standing for delivery, whether that be the the industrial players, who are notoriously resolute, or even billionaire whales from India.

‘But in that event, which is already playing out, by the way, silver prices and premiums will continue to increase, maybe even dramatically, as the news of insufficient physical silver transmits itself through the market.’

As those who follow precious metals will know, silver has only been at the US$50 level twice before — the first time was in 1980, when the Hunt brothers tried to corner the market, and the second instance was over a decade ago in 2011. Both of those moves were brief, and investors are understandably wondering if this time is different for silver.

It’s impossible for anyone to say for sure, but I’ve been hearing market watchers highlight the gold-silver ratio as a way to gauge the outlook for silver.

Ahead of silver’s US$50 landmark, David Morgan of the Morgan Report explained that the ratio shows silver still has room to rise. Here’s what he said:

‘We’re still in the 80s for the gold-silver ratio, which is historically high. And until we get to 70, I’m not going to be particularly happy. And off of today’s gold price, a 71 ratio would be like … US$55 silver, and that would be over that US$50 mark.’

Morgan also talked about the psychological impact of US$50 silver, saying that it could prompt algorithmic traders and institutions to enter the sector:

‘You’ll see algorithms come in and start trading silver, and you’ll probably see institutions come in, because they know that it’s a small market, and they can move the market with a buy order, if it’s significant enough.

How high can gold and silver prices go?

Taking a step back to look at the precious metals rally as a whole, I want to reiterate that the experts I’ve been hearing from don’t think this is the end of the bull market.

While many have emphasized that a correction would be healthy for gold and silver, they think the current cycle is still in progress and is likely to end with much higher prices.

Here’s Lynette Zang of Zang Enterprises on what could be coming:

‘If you go back to the beginning of the year, what you actually see is that while everything is going up, the spot contracts on gold and silver, and particularly silver, are much stronger and more powerful than those prices that we’re seeing in the stock market, or even in the Bitcoin market, in the crypto markets.

‘Gold and silver are handily outperforming, and that’s telling us (why) the central banks have been accumulating more gold than they ever have since they began tracking — because they know what they’re doing to destroy the currencies.’

It’s also worth noting that it’s not just people in the gold and silver space that are optimistic.

Precious metals are increasingly making news headlines, and more and more mainstream authorities are touting their protective benefits.

Just this week, American billionaire Ray Dalio of Bridgewater Associates suggested that investors allocate as much as 15 percent of their portfolios to gold. He compared the current environment to the 1970s, a time of high inflation and debt.

Dalio’s opinion is similar to that of DoubleLine Capital’s Jeffrey Gundlach, who recently said a 25 percent weighting toward gold wouldn’t be excessive.

Platinum and palladium take off

Gold and silver may be attracting the most attention, but platinum and palladium are also on the move.

Platinum, which spent years trading at rangebound levels, has broken out in 2025, and is currently above US$1,600 per ounce, a price not seen since 2013.

Palladium, whose price has been subdued since seeing several spikes between about 2020 and 2022, was also on the move this week, approaching US$1,500 per ounce.

While these precious metals are similar, it’s mostly platinum that’s being talked about as a potential opportunity for investors. Historically it’s often been priced higher than gold, and some see the two finding parity again in the future.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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House Budget Committee Chairman Jodey Arrington, R-Texas, will not seek re-election in 2026.

The senior Republican lawmaker will have finished serving a decade in Congress when he leaves at the end of next year.

‘I have a firm conviction, much like our founders did, that public service is a lifetime commitment, but public office is and should be a temporary stint in stewardship, not a career,’ Arrington said.

And the conservative Texan told Fox News Digital he felt he was leaving on a high note, having played a key role in crafting President Donald Trump’s big, beautiful bill.

‘It was a very unique, generational impact opportunity, to be almost ten years into this and to have the budget chairmanship, and to lead the charge to successfully pass that and to help this president fulfill his mandate from the people,’ Arrington said. ‘It just seems like a good and right place to leave it.’

He cited multiple legislative items across his tenure as Budget Committee chair when asked what he took pride in, but added, ‘It’s more of changing the narrative and the culture in Congress and in my party that I’m most proud of.’

‘I’m from a rural district and I can tell you, raising the profile among urban and suburban members as to the unique challenges of rural America and the unique contributions of rural America — like food security and energy independence and how much the nation depends on these plow boys and cowboys in rural areas — that’s another thing I’m proud of,’ he said.

Arrington said he had faith Republicans in Washington would pick up his mantle of fiscal hawkishness, or as he’s often called it, ‘reversing the curse’ of public debt.

‘The president’s committed to it, he talks about it all the time. He’s actually doing something about it with very difficult decisions, not politically popular decisions. This is all about political will,’ Arrington said. ‘Trump’s doing it. Mike Johnson is committed to it… And we have a growing number of fiscal hawks who are absolutely dogged on this issue.’

But he said he would continue to push for further fiscal reforms for his remaining year on Capitol Hill, including another budget reconciliation bill to follow up on the big, beautiful bill.

‘I don’t know where the Senate Republicans are. I don’t know where the president is and can’t speak for the White House. But the House is at the ready,’ Arrington said. ‘It’s been our most consequential tool to support the president and the strength of the country, and I don’t see any reason we wouldn’t utilize it to its fullest extent.’

The West Texas Republican said he had not given much thought to what he would do next but said he wanted to ‘remain in the fight,’ adding he would seek a ‘new leadership challenge’ that ‘allows me to make the biggest difference on as many people as I can.’

‘And then I would say…I am looking forward to quality time with my wife and kids and focusing on my leadership and service, not in the people’s house, but in my own house,’ Arrington said.

He said he hoped to ‘make a difference’ in the lives of his two young sons and daughter.

Arrington’s Lubbock-anchored district leans heavily Republican, meaning it’s unlikely to flip to blue in the 2026 midterms.

And come the end of his time next year, the conservative lawmaker said he would leave with no regrets.

‘I’m thankful that God called me and gave me the grace to succeed and to achieve the things that we’ve achieved,’ Arrington said.

‘His grace looks like the members of Congress that I’ve been doing battle with, my budget hawks who I’ve been in the trenches with, my constituents who I run into in the grocery store, who want to pray with me right there in the aisle while I’m checking out. The grace of God looks like my wife being both mom and dad about two-thirds of the time, because I’m in Washington doing battle for the country.’

He finished, ‘Did I make my share of mistakes? You bet. Did I learn along the way? You bet I did. But we left [the country] better than we found it, and it gives me great satisfaction.’

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The Department of Homeland Security (DHS) will suspend TSA PreCheck and Global Entry beginning Sunday as a partial government shutdown continues.

Homeland Security Secretary Kristi Noem on Saturday blamed Democrats for shutting down the government, saying they were causing ‘serious real world consequences.’

‘This is the third time that Democrat politicians have shut down this department during the 119th Congress,’ Noem said in a statement provided to Fox News Digital. ‘Shutdowns have serious real world consequences, not just for the men and women of DHS and their families who go without a paycheck, but it endangers our national security.’

The suspension of the programs, which allow some travelers to quickly get through airport security, was first reported by The Washington Post, which noted the changes would begin Sunday at 6 a.m. EST.

Noem said the department was making ‘tough but necessary workforce and resource decisions to mitigate the damage inflicted by these politicians.’

She said TSA and U.S. Customs and Border Protection (CBP) would be ‘prioritizing the general traveling population at our airports and ports of entry and suspending courtesy and special privilege escorts.’ The Federal Emergency Management Agency (FEMA), she added, will halt all non-disaster-related response to prioritize disasters.

Noem noted the suspension comes as a major storm is expected to hit the Mid-Atlantic and Northeast.

Rep. Bennie Thompson, D-Miss., ranking member of the House Homeland Security Committee, criticized the Trump administration for ‘idiotically’ shutting down the programs ‘to punish the American people.’

‘This is Trump and Kristi Noem purposely punishing the American people and using them as pawns for their sadistic political games,’ he said in a statement. ‘TSA PreCheck and Global Entry REDUCE airport lines and ease the burden on DHS staff who are working without pay because of Trump’s abuse of the Department and killing of American citizens.’

He called on the administration to immediately reverse the decision.

The third government shutdown in under half a year began on Feb. 14 after Democrats and Republicans were at an impasse on reaching a deal regarding President Donald Trump’s immigration crackdown.

DHS was the only department left without federal funding after Democrats walked away from a bipartisan plan released last month in response to the deaths of two U.S. citizens at the hands of federal law enforcement agents in Minneapolis during anti-ICE demonstrations.

DHS is the third-largest Cabinet agency with nearly 272,000 employees. Roughly 90% of DHS workers were expected to continue working, many without pay, according to the department’s Sept. 2025 government shutdown plan.

DHS has jurisdiction over numerous agencies and offices, including CBP, TSA, FEMA, Immigration and Customs Enforcement (ICE), the U.S. Coast Guard, and the U.S. Secret Service.

Fox News Digital’s Elizabeth Elkind and Alex Miller contributed to this report.

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