Q3 2025 Market Recap: Gold Soars, Equities Rally, Rates Fall

Another quarter of robust market performance, driven by surging precious metals and broadening equity gains. Here’s what stood out:

• Gold hits record highs, climbing over 50% as central banks diversify away from the U.S. dollar.
• U.S. equities (led by AI-focused tech) deliver double-digit returns, while Canadian and international stocks outperform due to lower valuations.
• Interest rates decline, with the Bank of Canada cutting twice and the Fed expected to follow, boosting borrowers but pressuring savers.
• Oil remains volatile, while silver surges 70% alongside gold.
• Risk management remains critical as equity markets show signs of froth.

For detailed analysis and strategies to navigate these trends, read the full Q3 2025 newsletter here.

RBC Dominion Securities Inc. | Sandler Wealth Management Group | www.sandlerwealth.ca