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October 27, 2025

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The U.S. Navy’s Tomahawk cruise missile would put Moscow well within target range if President Donald Trump were to fulfill Ukrainian President Volodymyr Zelenskyy’s request.

The Tomahawk has long been one of the most recognizable weapons in America’s arsenal. At $2 million per missile and $6 million per launcher, it can strike up to 1,500 miles into enemy territory.

If the United States were to authorize Ukraine to use it, it would mark a dramatic escalation in both capability and psychology. For the first time, Russian forces and strategic sites far beyond the front lines — including inside Russian territory — would fall within reach of a Western-supplied, precision long-range weapon that Moscow has no reliable defense against.

Unlike the shorter-range Storm Shadow or ATACMS systems already used by Kyiv, the Tomahawk would give Ukraine the ability to strike targets hundreds of miles inside Russia — air bases, ammunition depots, logistics hubs and naval assets supporting the war in Ukraine. That reach would instantly change the strategic balance.

Critically, it would give Ukraine the ability to hit at Russia’s energy industry, which, through exports to nations like China, Iran and India, funds the war effort.

Ukraine has used ATACMS systems to strike behind enemy lines in Russian-occupied Ukraine and near Russia’s borders — helicopter shelters, ammunition depots and runways. But even as missiles regularly rain down on Kyiv, its defense forces have not been able to respond in kind to Moscow, leaving the Kremlin hub unscathed and largely secure after three and a half years of war.

Recently, Ukraine used U.K.-made Storm Shadow missiles to strike a gun depot in Russia. The U.S. supplies targeting data for the Storm Shadow, and The Wall Street Journal reported that the Trump administration had lifted a ban on using the missiles to strike inside Russia.

‘Transferring Tomahawks to Ukraine would mark a major inflection point for Western support of Ukraine,’ Hudson Institute defense analyst Can Kasapoglu wrote in a recent essay. ‘The Tomahawk is one of the most effective missiles in the arsenals of North Atlantic Treaty Organization (NATO) nations.’

Kasapoglu noted that the Tomahawk’s strategic appeal ‘lies less in its raw explosive yield and more in its precision.’

For Moscow, the implications would be profound. Russia’s military doctrine has long depended on the assumption that its homeland infrastructure — especially command and logistics networks — would remain beyond direct threat from Western-supplied weapons. The introduction of Tomahawks into Ukrainian hands would destroy that assumption overnight.

The missile’s ability to fly low and evade radar would make it extremely difficult for Russian defenses to stop. Even advanced systems like the S-400 or S-500, already stretched across multiple fronts, could not guarantee interception. Each missile launched would carry not only destructive power but psychological weight — forcing Russia to divert resources away from its offensive operations in Ukraine to protect bases hundreds of miles away.

‘Such a move would inevitably free up airspace for the Ukrainian Air Force’s growing fleet of F-16 aircraft and Western-supplied ground-attack smart munitions,’ Kasapoglu wrote.

It would also inject uncertainty into Russian planning. Commanders would have to assume that every major staging area — from Belgorod to the Black Sea Fleet in Sevastopol — could be targeted. That uncertainty erodes confidence, slows operations, and imposes constant strain on air defense assets.

Trump explained on Wednesday why he did not provide Tomahawks to Ukraine despite speculation that he would do so.

‘There is a tremendous learning curve with the Tomahawk. It’s a very powerful weapon, very accurate weapon,’ Trump said Wednesday. ‘And maybe that’s what makes it so complex. But it will take a year. It takes a year of intense training to learn how to use it, and we know how to use it. And we’re not going to be teaching other people. It will be just too far out into the future.’

Trump also made clear he believes the U.S. has few to spare.

‘We need Tomahawks for the United States of America too. We have a lot of them, but we need them.’

The U.S. supply of Tomahawks is classified. But analysts say providing Ukraine with the missiles would weaken preparations for conflict in the Indo-Pacific. 

‘Tomahawk is one of the few munitions (Patriot is another) that would be useful both in Ukraine and the Western Pacific,’ an analysis by the Center for Strategic and International Studies (CSIS) said. 

The Department of War has already established a review process to ensure that weapons offered to Ukraine do not weaken what it regards as higher priority needs. 

‘This review process will almost certainly raise objections to this transfer, and presidential intervention may be required,’ the analysis found. 

Over the weekend, Zelenskyy told Axios Ukraine would welcome other long-range missiles as well. 

‘We speak not only about Tomahawks. The U.S. has a lot of similar things that doesn’t require much time for training. I think the way to work with Putin is only through pressure,’ Zelensky said.

Earlier in the week, he expressed skepticism that Ukraine could win the war.

‘They could still win it. I don’t think they will, but they could still win it,’ Trump told reporters Monday.

Putin’s calculus depends heavily on escalation control — the belief that NATO will stop short of providing weapons capable of directly threatening Russian territory. Tomahawks would shatter that red line. For the Kremlin, it would signal that Washington is prepared to move from containment to punishment — just after Trump triggered sanctions on Russia’s lucrative energy exports.

Putin told journalists this week that if Russia were attacked with Western long-range missiles, the response would be ‘very serious, if not overwhelming. Let them think about it.’

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In the view of Avik Roy — one of the first and most vocal critics of the Affordable Care Act (ACA), also known as Obamacare — Republicans and Democrats alike have missed the mark in the healthcare debate that has dragged the government into a 24-day shutdown.

‘Both sides are wrong,’ Avik said. ‘I’m sympathetic to the Republican view, but it’s a strategic mistake.’

The way Roy sees things, Republican wariness over renewing expanded government subsidies should be directed at the bigger problem behind them.

‘The subsidies aren’t inherently the problem,’ Roy said. ‘If you want low-income people who are near the poverty line to have insurance, you’re going to have to subsidize. Subsidies have been a part of Republican [healthcare] plans and Democratic plans. I would argue that the approach to subsidies that Obamacare used was actually pretty reasonable.’ 

That doesn’t mean he believes the government’s current healthcare trajectory is sustainable, either.

The federal government entered a 24-day shutdown at the beginning of October when lawmakers failed to come to an agreement over spending legislation to begin the new fiscal year. Republicans advanced a short-term spending bill that would have bought more time for lawmakers to finalize funding for 2026. But Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Hakeem Jeffries, D-N.Y., have shot down that measure repeatedly, demanding that Congress first address expiring COVID-era insurance subsidies. 

As a part of its American Rescue Plan, the Biden administration greatly widened the pool of eligible applicants who could receive a federal subsidy to help pay for their Obamacare health insurance.

In its original form, Obamacare capped subsidies for anyone making over 400% of the federal poverty level. But that changed in 2021 when, as an emergency response to COVID-19, Congress temporarily removed that cap.

The cap will go back into effect at the end of 2025.

Findings by KFF, a healthcare policy think tank, indicate that over 90% of the 24 million Obamacare enrollees make use of the expanded credits. Letting them expire could leave those Obamacare enrollees suddenly footing a substantially heftier bill. But, according to the Committee of a Responsible Federal Budget, a nonpartisan fiscal policy think tank, continuing the policy would also come with a steep price tag; upwards of $30 billion annually.

Republicans — especially the Hill’s most fiscally conservative lawmakers — have called for the subsidies to expire to help reel the country’s spending back under control.

Despite agreeing with Republicans that Obamacare did little to make health insurance more affordable, Roy believes Republican insistence on letting them expire won’t solve Obamacare’s underlying problems that are driving prices higher: regulations. 

Roy believes Republicans should use the moment to negotiate, extending the subsidies for maybe one to two years for existing enrollees in exchange for a permanent fix of the costliest Obamacare regulations driving costs upward. 

‘In Switzerland [health insurance] costs $200 a month or $300 a month. The same plan in America costs $1,000 a month or $15,000 a month. Subsidizing it also costs a lot. But having a scale where the subsidy fades out gradually as you go up the income scale — that part is fine.’

Roy praised efforts from the Trump administration to bring the underlying costs of healthcare down, most recently through the most favored nation strategy. Under that plan, the Trump administration had leveraged the price other countries pay for pharmaceuticals to bring U.S. prices down.

In theory, the most favored nation plan would set American prices at the lowest rates other countries pay.

‘They’re not actually deals that truly establish most favored nation status because it’s company by company, and they are on particular drugs. But the general idea — if you want to participate in the U.S. market you’ve got to give us the lowest price you give any other advanced economy — I think that’s eminently reasonable,’ Roy said of the administration’s negotiations. 

In response to Democratic demands, Republicans in Congress maintain that the enhanced premium tax credits are completely unrelated to the government’s funding and rejected those demands out of hand.

The Senate has voted on a short-term funding bill 12 times since the beginning of the shutdown and appeared no closer to finding a resolution when the lawmakers left town on Thursday.

The Senate will return to Washington, D.C., at the beginning of next week. 

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President Donald Trump is cozying up with top ally Japan’s emperor and new prime minister Monday ahead of a high-stakes meeting with Chinese President Xi Jinping.

Upon arrival in Tokyo, Trump sat down with Japanese Emperor Naruhito, the nation’s symbolic leader, at Tokyo’s Imperial Palace.

On Tuesday, Trump will meet Japan’s first female prime minister, Sanae Takaichi.

The two are expected to bond over their fondness for Shinzo Abe, Japan’s former prime minister who was assassinated in 2022.

‘I look forward to meeting the new prime minister. I hear phenomenal things,’ Trump said on Monday. ‘He was a great ally and friend of Shinzo Abe, who was my friend, the former prime minister. And he was great. He was one of my best … I know they were very close.’

‘I think she’s going to be great,’ he said of Takaichi.

Meanwhile, U.S. and China negotiators reported great progress in Malaysia on a potential trade deal, easing tensions ahead of the Trump-Xi meeting on Thursday.

Relations between the two world leaders had strained over China’s recent crackdown on critical mineral exports and Trump threatened to bring back the 100% tariff on Chinese goods.

Treasury Sec. Scott Bessent said Sunday talks on the sidelines of the ASEAN Summit had eliminated the need for 100% tariffs, expected to take effect Nov. 1, and that he expects China to delay implementation of its restrictions on rare earth minerals and magnets.

Trump and Xi are expected to sign off on the agreement during the meeting if talks go well.

Takaichi took office last week and leads a right-wing coalition. Trump already congratulated the new prime minister on becoming Japan’s first female top leader.

Takaichi is expected to tout Japan’s efforts to increase defense spending, which long sat at 1% of GDP — a figure analysts say falls well short of what the U.S. is pushing for from its allies.

During the meeting with Trump, Takaichi is expected to face pressure to raise defense spending even further to match NATO’s 5% target.

Takaichi has expressed concern about Japan’s reliance on the U.S., but signaled intentions to work closely with Trump. She took office on a recent populist wave in Japan similar to the MAGA movement.

Trump’s suggestion that Japan should pay for U.S. troops in the region has spooked some Japanese officials. Around 60,000 U.S. military personnel are stationed in Japan, making it the largest foreign host of U.S. forces.

Adding to those concerns, a trade framework in July placed a 15% tariff on imported Japanese goods, with higher rates for steel, aluminum and auto parts.

Despite these challenges, both sides are expected to use this week’s meetings to reaffirm what Trump has called ‘the most important partnership in Asia,’ setting the stage for his critical summit with Xi later this week.

This post appeared first on FOX NEWS

Next week’s governor races may tell us more about where the shutdown fight is headed than the shutdown itself will show about those elections.

While the gubernatorial races in New Jersey and Virginia will look largely untouched by the lapse in government funding, their results could serve as a barometer for public perception over who’s at fault for the standoff dragging out in Washington, D.C.

But only if the results stand out. 

Bill Wichterman, former special assistant to President George W. Bush, said the two parties seem entrenched in their positions with no signs of blinking anytime soon. Having seen past shutdown conflicts up close as a policy advisor to Senate Majority Leader Bill Frist, R-Tenn., and a chief of staff for other offices, he believes the election results would have to look dramatic to change the resolve of lawmakers.

‘Let’s say it’s normally a 5-point win, and it turns out to be a 15-point win,’ Wichterman said, speaking to the possibility of a Democrat winning in both races. ‘Yeah, that will get people’s attention. But if it’s like a normal 5-point win, whatever the norm is, I don’t think Republicans will look at that as alarming.’

Both Democratic candidates, Abigail Spanberger in Virginia and Mikie Sherrill in New Jersey, lead their Republican challengers with just a week to go until Election Day. Republicans Winsome Earle-Sears, the Virginia candidate, and Jack Ciattarelli in New Jersey both trail by under 10 points. 

In the aftermath of a presidential election, Wichterman said a good performance by the minority party isn’t particularly surprising; that would fit the historical trend for how the public reacts to a new president of either party. 

‘A Democratic win in those two states? Does that freak out Republicans? No, they’re both blue states,’ Wichterman said. 

But if Republican gubernatorial candidates can pull upsets, Wichterman believes that changes things.

‘I think Democrats would look at that and say, ‘My gosh, we’re not doing well. What’s going on here?’ That would be disruptive.’

Government funding ran dry on Oct. 1 when lawmakers failed to reach an agreement over a Republican-led short-term spending bill that would have kept the government open through Nov. 21. Democrats, led by House Minority Leader Hakeem Jeffries, D-N.Y., and Chuck Schumer, D-N.Y., have opposed the measure on 12 separate occasions, demanding Congress first consider the extension of COVID-era emergency subsidies for Obamacare premiums.

Republicans have rejected those demands out of hand, maintaining that the subsidies have nothing to do with the question of government funding.

Despite the lapse in funding, state-level elections will remain largely unaffected. 

On a practical level, the federal government largely leaves states to carry out their own elections and plays a minimal role in their administration. In many cases, the federal government awards funding for states to update, modernize or shore up security for elections.

In one of the most notable examples, the Election Assistance Commission (EAC) doesn’t directly help organize state-level elections. Instead, it helps provide funding for security and infrastructure-related expenses through grants established by the Help America Vote Act (HAVA). 

New Jersey and Virginia have each already received $272,700 through HAVA grants in 2025. Congress approved that funding in appropriation legislation earlier this year.

Wichterman believes that another way that the election could tip the scales for the shutdown is how the White House reacts. Even if lawmakers in Congress stay put after the election, President Donald Trump’s direction over government funding could force a change in position for lawmakers.

So far, Trump hasn’t budged and has his focus elsewhere. On Monday, Trump traveled to Japan to meet with the country’s emperor, among other officials.

‘I think Democrats have been waiting for Trump to crack [on the shutdown],’ Wichterman said. ‘And he’s not. I’ve been in lots of shutdown fights starting back in ‘95. I know what it feels like when you’re part of a party that’s taking on water. Doesn’t feel that way on the Republican side yet.’ 

Democrats expressed similar thoughts as they shot down a supplemental funding bill to pay essential government workers. To them, the gridlock on Capitol Hill likely will remain until something provokes Trump to get personally involved in negotiations. 

Sen. Chris Van Hollen, D-Md., believes the president is the only Republican voice that matters.

‘He says, ‘Jump,’ they say, ‘How high?’ And so, he’s the one that needs to come to the table,’ Van Hollen said when asked about shutdown-ending negotiations.

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California Democrat Gov. Gavin Newsom and former Vice President Kamala Harris both remarked in the past few days that they’re keeping their options open for potential 2028 presidential runs. 

‘Yeah, I’d be lying otherwise,’ Newsom told ‘CBS News Sunday Morning’ when asked if he would give ‘serious thought’ to a 2028 presidential run after the 2026 midterms. ‘I’d just be lying. And I’m not — I can’t do that.’

‘I have no idea,’ Newsom said of whether he would decide to run, adding that he has not let academic struggles from across his life prevent him from working to ascend the political ladder. ‘The idea that a guy who got 960 on his SAT, that still struggles to read scripts, that was always in the back of the classroom, the idea that you would even throw that out is, in and of itself, extraordinary. Who the hell knows? I’m looking forward to who presents themselves in 2028 and who meets that moment. And that’s the question for the American people.’

Newsom long has been floated as a likely Democrat nominee for the presidency, most notably after the unprecedented 2024 race when President Joe Biden dropped out of the running amid heightened concerns over his mental acuity, and then-Vice President Harris took up the mantle in his absence. President Donald Trump ultimately swept the seven battleground states and won the popular vote and the Electoral College. 

Harris also left the door open to a potential 2028 presidential run while speaking with the BBC in an interview that aired Saturday. Harris is a longtime California Democrat who has served as San Francisco district attorney, the California attorney general, and a U.S. senator representing California before ascending the political landscape as the nation’s vice president in 2021. 

‘I am not done,’ Harris told the British outlet. ‘I have lived my entire career as a life of service, and it’s in my bones.’

Harris said during the interview that her grandnieces would see the first female president ‘in their lifetime, for sure,’ and that she could ‘possibly’ be that woman, according to the BBC. 

Harris brushed off polling that shows her as a 2028 Democrat outsider, saying during the interview that she historically has not listened to polling data.

‘If I listened to polls I would have not run for my first office, or my second office — and I certainly wouldn’t be sitting here.’

The 2024 presidential election threw the Democrat Party into a tailspin as it continues searching for its next de facto leader. Harris published a memoir in September detailing her 107 days on the campaign trail after Biden dropped out of the race, which included a handful of shots at the former president that has caused rifts within the party to grow deeper as it looks for fresh leadership. 

Both Newsom and Harris are longtime political foes of Trump, who has railed against both of them for promoting left-wing West Coast policies. 

Trump, who is term limited and in the midst of his second presidency, welcomed a potential Newsom presidential run back in May, but said the California high-speed rail project intended to connect San Francisco and Los Angeles would prevent him from proceeding in a presidential race.

‘I would love him to run for president,’ he said. ‘I’d love to see that, but I don’t think he’s going to be running because that one project alone — well, that, and the fires and a lot of other things — pretty much put him out of the race.’

The ‘one project alone’ refers to the high-speed rail project that has been plagued by delays and increased costs, with the Trump administration pulling the funding plug on the project in July. 

Fox News Digital reached out to the respective offices of Newsom and Harris Monday morning for additional comment on their 2028 remarks and has yet to receive replies. 

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‘Not for distribution to United States newswire services or
for dissemination in the United States.’

Forte Minerals Corp. (‘Forte’ or the ‘Company’) ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ) is pleased to announce that it has entered into an agreement for a C$5.7 million strategic investment through a non-brokered private placement of 6,333,333 common shares at C$0.90 per share with a second strategic investor (the ‘Second Strategic Investment’).

Patrick Elliott , President and CEO of Forte Minerals, commented: ‘This is a pivotal moment for Forte. Having a second well-distinguished strategic investor join our shareholder base further validates the strength of our exploration portfolio and the progress we’ve made in advancing drill-ready projects in Peru. This investment adds further depth, local partnership, and momentum as we continue building a pipeline of copper and gold discoveries.’

Investment Overview
The Second Strategic Investment is expected to close on or before November 5, 2025, subject to regulatory approvals. All securities issued will be subject to a statutory four-month-and-one-day hold period under applicable Canadian securities laws. No finder’s fees or commissions will be paid in connection with the financing.

Proceeds from the financing will be used to advance Forte’s portfolio of four exploration projects in Peru. A portion of the proceeds will also be allocated to general working capital and corporate purposes.

In connection with this financing, the Company notes that its First Strategic Investor, which participated in Forte’s July 2025 private placement , has a contractual right to participate in future financings to maintain a 9.9 percent ownership interest.

Should that investor elect to exercise this right in the current financing, they may purchase up to an additional 994,598 common shares at C$0.90 per share, on the same terms. If such participation occurs, total gross proceeds will increase to approximately C$6.6 million through the issuance of up to 7,327,931 common shares.

Strengthening Forte’s Position in Peru
The Second Strategic Investor’s commitment underscores the quality of Forte’s exploration portfolio and reinforces the Company’s credibility as an explorer with deep operational experience and partnerships in Peru. The addition of a second strategic investor within three months strengthens Forte’s base of long-term shareholders and it supports its mission to responsibly advance a 19,000-hectare portfolio of copper and gold assets within the country’s most prospective mineral belts.

‘This is more than an investment,’ said Elliott.

‘It’s a partnership built on a shared vision to unlock the next generation of discoveries that will help sustain Peru’s position as a global leader in copper and gold production.’

ABOUT Forte Minerals CORP.
Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (Cu) and gold (Au) assets in Peru. Through a strategic partnership with GlobeTrotters Resources Perú S.A.C. , the Company gains access to a rich pipeline of historically drilled, high-impact targets across premier Andean mineral belts. The Company is committed to responsible resource development that generates long-term value for shareholders, communities, and partners.

On behalf of Forte Minerals CORP.

(signed) ‘ Patrick Elliott’
Patrick Elliott, MSc, MBA, PGeo
President & Chief Executive Officer
Forte Minerals Corp.
info@forteminerals.com
www.forteminerals.com

Investor Inquiries
Kevin Guichon, IR & Capital Markets
E: kguichon@forteminerals.com
C: (604) 612-9976
Media Contact
Anna Dalaire, VP Corporate Development
E: adalaire@forteminerals.com
T: (604) 983-8847

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Certain statements included in this press release constitute forward-looking information or statements (collectively, ‘forward-looking statements’), including those identified by the expressions ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘should’ and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements relating to the intended use of proceeds of the Strategic Placement. These forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matter described in this press release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under ‘Risk Factors and Uncertainties’ in the Company’s latest management’s discussion and analysis, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information or statements to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.

Neither the Canadian Securities Exchange (the ‘CSE’) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e1f4c64c-e2a1-4164-91b7-021141276eb6

News Provided by GlobeNewswire via QuoteMedia

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Leading gold analysis firm Metals Focus published its annual Precious Metals Investment Focus report on Saturday (October 25).

The report outlines the investment options available for those interested in leveraging rising demand for precious metals such as gold and silver. The report also highlights key supply and demand trends shaping the precious metals market and driving prices now and over the next 12 months.

Gold surged more than 65 percent from the start of 2025 to its record high of US$4,379.13 per ounce on October 17. Not to be outdone, silver skyrocketed by more than 88 percent to peak at its highest-ever price of US$54.47 per ounce on the same day.

Although prices for both precious metals have since pulled back on profit-taking, Metals Focus believes the conditions that created these record high prices are still very much in play.

US trade policy driving gold prices in 2025

Metals Focus analysts attribute gold’s stellar performance in 2025 to a number of factors largely centered on growing global economic uncertainty and ongoing geopolitical conflicts. Gold’s safe haven status is highly favored in these conditions, attracting both retail and institutional investors as well as central banks.

However, the firm sees US President Donald Trump’s trade policies as the most influential: “In our view, the single most important factor has been uncertainty around US trade policy.”

Trump’s constant trade war waffling has businesses and governments scrambling to keep up and unable to plan for the future. As tariffs increase the price of goods while disrupting supply chains, inflation is becoming stickier. This is baking in more macroeconomic risks into the global economy, and in turn raising the risk for stagflation—an ideal environment for higher gold prices.

The Federal Reserve’s reversal of its monetary policy in mid-September 2025 with its first interest rate cut and the anticipation of further rate cuts to come are further boosting the gold price. The sustainability of growing US debt and the waning strength of the US dollar on the global stage are also price supporting factors for the yellow metal.

Central bank gold buying, which has reached record levels in recent years, also continued to be net positive in 2025, further driving demand. “Put together, these drivers explain why gold has not only reached fresh highs in 2025, but also why pullbacks have been shallow and short-lived, as investors have been rushing to buy dips,” states Metals Focus.

Silver shoots up on liquidity squeeze

The same forces sending gold prices to new heights are also bringing silver along for the ride.

Silver often lags behind its sister metal, and this latest price cycle was no exception. However, investor belief that silver remains undervalued given strong industrial demand and unprecedented tight supply finally pushed the metal to break on through to the other side of a 45-year record high.

Metals Focus also points to the liquidity squeeze in the silver futures market, specifically concerning the COMEX in London. As the immediate supply of silver has not been enough to meet rising demand, the spot price for silver has risen higher than the price of futures contracts, a phenomenon known as backwardation. This creates a squeeze on short sellers who must now buy back silver contracts at higher prices.

The situation amplified silver’s rally in early to mid-October. However, later in the month shipments of silver from New York and China helped to alleviate this pressure.

Gold price outlook for 2026

Looking forward, the trends underlying much of gold’s record-breaking price momentum are expected to remain strong well into next year.

Metals Focus sees the price of gold posting another annual average high of US$4,560 per ounce as it heads toward US$5,000 in 2026, potentially reaching a record US$4,850 in the fourth quarter.

These gains in gold are projected to materialize despite supply side growth. Metals Focus is forecasting a surplus of 41.9 million ounces in 2026, up 28 percent year-over-year. The firm sees gold mine production reaching another record high in 2026 at the same time that gold recycling could climb by 6 percent to a 14-year high in jewellery demand is likely to be affected by high prices, low consumer confidence, and economic uncertainty.

What will move gold prices higher in 2026?

Gold investors should take cues from interest rate moves, inflation levels, strength or weakness in the US dollar and sentiment surrounding the independence of the Federal Reserve. Of course, US trade policy will continue to be a main theme for precious metals over the next 12 months.

“As we have witnessed since the beginning of the Trump 2.0 administration, the abrupt and often unpredictable nature of US policy moves and the resulting uncertainty for the global trade system, and in turn the global economy, is expected to be a key driver of sentiment towards gold,” stated the firm.

Further driving demand, central banks around the world are expected to remain net buyers of safe-haven gold as the global push toward de-dollarization continues.

Gold and silver price outlook

Chart via Metals Focus, Bloomberg

Silver price outlook for 2026

As for silver, the white metal will continue to be seen as a more affordable alternative to gold. Metals Focus is looking for silver to average US$57 per ounce next year and even take a run at the US$60 level in mid-to-late 2026.

Silver has not only benefitted from safe-haven investor demand and strong industrial demand but also tight supply. Yet, the firm notes that the ongoing supply deficit for silver is expected to fall from 143.6 million ounces in 2024 to 63.4 million ounces in 2025. That figure is expected to shrink further to 30.5 million ounces in 2026.

Nevertheless, the silver market remains in a supply deficit at a time when demand is strong. “We therefore remain bullish towards silver for the rest of this year and 2026,” noted the report’s authors, who expect silver to continue outperforming gold at least in the first half of the new year.

In response, the gold:silver ratio has the potential to continue falling in 2026. However, Metals Focus believes the market will see this trend reverse in the back half of the year as silver loses some steam.

Gold:silver ratio

Chart via Metals Focus, Bloomberg

Investor takeaway

Overall, Metal Focus is confident the precious metals bull market will continue throughout the remainder of 2025 and into 2026. Gold is especially benefitting from its safe-haven status at a time of heightened macroeconomic and geopolitical uncertainty. Silver is tracking gold’s ascent for the same reasons, in addition to tight above ground supply and sustained industrial demand.

For those who think they’ve missed out on the gains to be made in this latest precious metals bull cycle, there’s still plenty of upside to be had in the gold and silver markets in Q4 2025 and heading into 2026.

Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

The historical Ranger-Page workings and mineralized zones are geologically continuous with the Bunker Hill system

Silver Dollar Resources Inc. (CSE: SLV,OTC:SLVDF) (OTCQX: SLVDF) (FSE: 4YW) is pleased to announce it has signed an asset purchase agreement (the ‘Agreement’) with Bunker Hill Mining Corp., whereby Bunker Hill Mining Corp. and its subsidiary (together, ‘Bunker Hill’) will acquire from Silver Dollar Resources Inc. and its subsidiary (together, ‘Silver Dollar’ or the ‘Company’), the right, title and interest in the assets related to the Ranger-Page Project located in Shoshone County, Idaho, USA (the ‘Target Assets’), which includes Silver Dollar’s 75% interest in the Government Gulch property and its related option rights under the Government Gulch Option and Joint Venture Agreement (the ‘Government Gulch Agreement’) and the Page Mine Mineral Rights Lease and Option Agreement (the ‘Page Mine Agreement’).

Figure 1: Plan map showing combined Bunker Hill – Ranger-Page land package.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7232/271979_39a2aa04d46b4906_001full.jpg

Sam Ash, President and CEO of Bunker Hill Mining, stated: ‘The addition of the Ranger-Page Mines represents another step in our vision to re-establish Bunker Hill as a leading producer in the Silver Valley. The Ranger-Page workings and mineralized zones are geologically continuous with the Bunker Hill system, offering immediate synergies for exploration, development, and potential future production.’

‘Amalgamating the Ranger-Page Project with Bunker Hill Mining is a strategic and logical transaction that aligns perfectly with the plan we contemplated when we acquired the Project last year,’ said Greg Lytle, President and CEO of Silver Dollar. ‘While the transaction has happened faster than expected, we are confident the timing is optimal for both companies. Ranger-Page enhances Bunker Hill’s exploration prospects and provides Silver Dollar with a strong equity position in a near-term producer, benefiting from the upside of the combined assets.’

Figure 2: Cross Section showing the Bunker Hill – Ranger-Page underground workings and target area.

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Strategic Highlights:

  • Consolidated Land Position: The acquisition unites the Ranger-Page and Bunker Hill properties into a contiguous land package, creating one of the largest and most prospective holdings by any single company in the Silver Valley.
  • Exploration Upside: Historical drilling and production data from the Ranger-Page indicate high-grade silver-lead-zinc mineralization along the Page vein system, which remains open at depth and along strike.
  • Infrastructure Synergies: The Ranger-Page Mines’ existing underground workings and surface access points could provide additional flexibility for future mine planning, ventilation, and exploration access to deeper levels of the Bunker Hill system.
  • Complementary to Restart Plan: The acquisition is aligned with Bunker Hill’s ongoing restart of operations at the Bunker Hill Mine, targeted for H1 2026, and enhances the Company’s upside optionality for future resource expansion and mill feed sources.
  • Community benefits: This has the potential to create more local employment opportunities within the Silver Valley and stimulate procurement from regional suppliers in ways that benefit the local communities.

Transaction Summary

Under the terms of the agreement, Bunker Hill agreed to acquire all of Silver Dollar’s interest in the Ranger-Page Project and associated claims from Silver Dollar for total consideration of CAD$3,500,000, payable by the issuance of 23,333,334 Bunker Hill Common Shares at a deemed price of CAD$0.15 per share. The Bunker Hill Common Shares will be subject to a statutory six-month hold period and contractual escrow and will be released in accordance with the following schedule:

Release Date Payment Shares Release Schedule
from Contractual Escrow
6-month anniversary of Closing Date 2,333,333 Shares
9-month anniversary of Closing Date 2,333,333 Shares
12-month anniversary of Closing Date Balance of Shares (18,666,668 Shares)

The Agreement is subject to Bunker Hill’s due diligence review in respect of the title to the Ranger-Page Project within 15 business days of the date of the Agreement and it also includes representations, warranties, covenants and indemnities customary in transactions of this nature. Silver Dollar will, subject to Canadian Securities Exchange acceptance, pay a finder’s fee by the allocation of 1,166,667 of the Bunker Hill Common Shares to each of Kluane Capital FZCO and Canal Front Investments Inc. in respect of the transaction. The finders’ shares will be subject to the same statutory and contractual escrow restrictions as described above.

Closing of the transaction is expected to be completed on or before November 28, 2025.

About the Ranger-Page Project

Located in a world-class silver district, the Ranger-Page land package covers six historic mines and adjoins the Bunker Hill Mining property. The primary target areas are up and down plunge from historic underground mining, along strike where ground induced polarization (IP) surveys have identified anomalies, and where surface trenching identified near surface mineralization. Additional exploration targets have also been identified away from historic mine infrastructure, using soil geochemical data, mapping, and ground IP survey data.

About Bunker Hill Mining Corp.

Bunker Hill is an American mineral exploration and development company focused on revitalizing its historic mining asset: the renowned zinc, lead, and silver deposit in northern Idaho’s prolific Coeur d’Alene mining district. This strategic initiative aims to breathe new life into a once-productive mine, leveraging modern exploration techniques and sustainable development practices to unlock the potential of this mineral-rich region. Bunker Hill Mining Corp. aims to maximize shareholder value by responsibly harnessing the mineral wealth in the Silver Valley mining district, focusing its efforts on this single, high-potential asset. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR+ and EDGAR databases.

About Silver Dollar Resources Inc.

Silver Dollar is a dynamic mineral exploration company focused on two of North America’s premier mining regions: Idaho’s prolific Silver Valley and the Durango-Zacatecas silver-gold belt. Our portfolio includes the advanced-stage Ranger-Page and La Joya projects, as well as the early-stage Nora project. The Company’s financial backers include renowned mining investor Eric Sprott, our largest shareholder. Silver Dollar’s management team is committed to an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.

For additional information, you can visit our website at silverdollarresources.com, download our investor presentation, and follow us on X at x.com/SilverDollarRes.

ON BEHALF OF THE BOARD

Signed ‘Gregory Lytle’

Gregory Lytle,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (604) 839-6946
Email: greg@silverdollarresources.com
179 – 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9

Forward-Looking Statements:

This news release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the closing of the transaction are forward-looking statements. Often, but not always, forward looking information can be identified by words such as ‘pro forma,’ ‘plans,’ ‘expects,’ ‘will,’ ‘may,’ ‘should,’ ‘budget,’ ‘scheduled,’ ‘estimates,’ ‘forecasts,’ ‘intends,’ ‘anticipates,’ ‘believes,’ ‘potential’ or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.

In making the forward-looking statements in this news release, the Company has made certain assumptions, including without limitation, the receipt of any necessary regulatory approvals in connection with the transaction and the purchaser’s satisfaction with its due diligence review.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, the ability of the Company to obtain any necessary regulatory approvals and the purchaser’s satisfaction with its due diligence review.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271979

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Apex Resources Inc. (TSXV: APX) (OTCID: SLMLF) (‘Apex’ or the ‘Company’) is pleased to announce the commencement of a drilling program at its Jersey Emerald Property (the ‘Property’), located in southern British Columbia. This program will target deposits of critical minerals, specifically tungsten and zinc.

The drilling campaign will encompass several holes designed to explore a new area of tungsten mineralization, south of the area of historic mining on the Property and south of the current tungsten resource.

The Property, located close to a major highway and within 20 km of the Metaline Falls/Nelway Canada-US border crossing, has historical significance as an accessible site rich in tungsten and other critical minerals, making it an ideal candidate for further exploration to support the growing market needs.

This initiative is critical as demand for tungsten continues to rise due to its essential applications in various industries, including aerospace, defense, and manufacturing.

The increasing global emphasis on securing critical minerals, including tungsten, aligns with Apex’s strategic objectives. The Company aims to position itself as a key player in the supply chain of essential materials necessary for technological advancements.

Apex will provide regular updates on the progress of the drilling program, including results and findings that may impact overall project value. The team is committed to responsible exploration practices and maintaining open communication with stakeholders.

Lithium Creek Project Option Agreement Amendments

The Company also announces that terms of the option agreement on the Lithium Creek Project in Nevada (the ‘Option Agreement’) have been amended by the parties as follows:

  1. The cash option payment of US$150,000 that was due on August 25, 2025 was reduced to US$75,000;

  2. The exploration and development expenditures due to have been completed on or before August 25, 2025 were reduced from US$700,000 to US$434,000;

  3. The exploration and development expenditures due to be completed on or before August 25, 2026 have been increased from US$1,200,000 to US$1,266,000; and

  4. The Company is to issue 2,700,000 common shares to the optionor within five (5) business days following receipt of TSX Venture Exchange approval.

All other terms of the Option Agreement remain in full force and effect.

About Apex Resources Inc.

Apex is a Vancouver-based exploration company with a suite of precious and critical minerals projects and historic mines located in the United States and Canada.

The Jersey-Emerald Property is wholly owned by Apex and encompasses the historic Jersey Lead-Zinc Mine – British Columbia’s second largest historic zinc mine, and the Emerald Tungsten Mine – Canada’s second largest historic tungsten mine, both located in southern British Columbia.

The Lithium Creek Project is Apex’s flagship project with placer claims covering hundreds of square miles within the aerially extensive Fernley, Humboldt, and Carson Sinks, and includes widespread naturally flowing lithium brine groundwater. The Lithium Creek Project is strategically located near the City of Reno and within 40 minutes of the principle North American battery hub, hosting the Tesla Gigafactory and other key industry players in the Lithium Ion battery supply chain.

On Behalf of the Board of Directors of

Apex Resources Inc.
Ron Lang,
President & CEO

Ph. +1(250) 212-7119 or info@apxresources.com website: www.apxresources.com

The technical information in this news release, prepared in accordance with Canadian National Instrument standards (‘NI 43-101’), has been reviewed and approved by Linda Caron, P. Eng., a Qualified Person, who is independent of Apex.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws (‘forward-looking statements’). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘projects,’ ‘potential’ and similar expressions, or that events or conditions ‘will,’ ‘would,’ ‘may,’ ‘could’ or ‘should’ occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund exploration work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Project; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in conducting work programs; the risk of environmental contamination or damage resulting from Apex’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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Here’s a quick recap of the crypto landscape for Monday (October 27) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$115,014, a 0.9 percent increase in 24 hours. Its lowest valuation of the day was US$113,083, and its highest was US$116,032.

Bitcoin price performance, October 27, 2025.

Chart via TradingView

Bitcoin (BTC) climbed to two-week highs on Monday, breaking above US$115,600 as investors priced in expectations of an upcoming Federal Reserve interest rate cut. The cryptocurrency has now risen for five consecutive sessions, with Sunday’s 2.6 percent gain pushing BTC past the 50-day exponential moving average at US$114,176.

Technical analysts see the move as a potential prelude to a fresh rally, contingent on continued market support and Fed signals.

Trader Ted Pillows noted on X that Bitcoin has “fully reclaimed the $114,000 support zone” and emphasized that the next key hurdle is US$118,000. He added that, if momentum holds, “a new ATH could happen in 1–2 weeks.”

Market watchers are now closely monitoring the Fed meeting for confirmation of rate-cut expectations, which could provide further bullish fuel for BTC and broader crypto markets.

Ether (ETH) was priced at US$4,167.45, a 1.5 percent increase in 24 hours. Its lowest valuation of the day was US$4,053.35, and its highest was US$4,246.23.

Altcoin price update

  • Solana (SOL) was priced at US$200.39, trading flat over the last 24 hours. Its lowest valuation of the day was US$197.24, and its highest was US$205.03.
  • XRP was trading for US$2.62, a decrease of 0.7 percent over the last 24 hours. Its lowest valuation of the day was US$2.60, while its highest was US$2.67.

ETF data and derivatives trends

Bitcoin derivatives metrics indicate ongoing caution and positioning for downside risk.

Liquidations for Bitcoin contracts have totaled approximately US$6.42 million in the last four hours, the majority of which were long positions, reflecting short-term selling pressure.

Ether liquidations showed a similar pattern, with long positions dominating US$15.55 million in liquidations, though long and short liquidations were more evenly split.

Futures open interest for Bitcoin fell 0.50 percent to US$75.51 billion, and Ether futures declined 0.57 percent to US$49.89 billion, suggesting modest rotation or renewed altcoin activity.

The perpetual funding rate for Bitcoin was 0.008 and 0.009 for Ether, indicating a mild long bias among remaining positions. Bitcoin’s relative strength index stood at 54.84, reflecting neutral-to-moderately bullish momentum and room for price growth before overextended conditions.

Today’s crypto news to know

Binance eyes US return after Trump pardon for CZ

Binance is weighing a US market re-entry following President Trump’s pardon of founder Changpeng Zhao, exploring options to consolidate its American affiliate or allow direct access for US investors, Bloomberg reported.

The pardon clears Zhao’s 2023 conviction for failing to maintain anti-money laundering controls, restoring his ability to lead financial ventures.

Hours after the announcement, Zhao expressed ambitions to make the US “the Capital of Crypto” and expand Web3 globally. Binance’s BNB token jumped 8 percent in response.

Zhao currently oversees a blockchain ecosystem with around US$8.7 billion in assets, ranking third behind Ethereum and Solana.

Japan’s first regulated Yen Stablecoin launches

JPYC launched Japan’s first regulated yen-pegged stablecoin on October 27.

The stablecoin aligns with Japan’s Payment Services Act, requiring full reserve backing in yen deposits and government bonds. JPYC aims to issue 10 trillion yen (US$67 billion) over three years, challenging the US-dominated stablecoin market where USDC holds roughly US$40 billion.

The framework prioritizes consumer protection and financial stability, lessons drawn from the 2022 TerraUSD collapse.

JPYC offers zero-fee issuance, redemption, and transfers, earning income via interest on reserves in deposits and government bonds. Each transfer is capped at 1 million yen under the regulatory structure.

American Bitcoin boosts strategic reserve to 3,865 BTC

American Bitcoin (ABTC) expanded its strategic reserve to 3,865 BTC, acquiring 1,414 BTC through both open-market purchases and in-house mining, according to a company release.

The accumulation lifts the company’s Satoshis per Share (SPS) metric to 418, a 52 percent increase since September 1.

Integrated mining enables ABTC to secure BTC at lower costs than external acquisitions, giving it a structural advantage over competitors.

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

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

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