Precious Metals Update & Mortgage Solution

Bill’s Blog | April 7, 2026

The first quarter has just ended, and it was a turbulent period on many fronts. Two major wars have continued to unfold with ongoing tragic consequences, and with that comes serious inflation at the gas pump and all energy costs. The outcome will ultimately filter into every aspect of the cost of living globally. Wars expose a nation’s vulnerabilities, and now dozens of countries have energy shortages and restrictions (especially in Southeast Asia). Fertilizer prices are rising significantly, which will impact all nations and could cause food shortages for poorer countries. With the combination of massive debts of most nations and individuals, especially in Western countries, we are seeing major cracks and struggles for many people. I encourage my readers and clients to re-evaluate their spending and financial plans.

In Canada, we are seeing growing challenges in the real estate markets (especially in BC, Ontario and several larger cities). Governments (federal and provincial) are now having to bail out developers in Ontario, which is a serious concern. There are growing foreclosures in these markets, and sales numbers have declined from historic norms. Home prices continue to correct in many markets, and this trend is likely to continue for several years. For decades, housing prices were believed to be immune to declines. I will provide a possible solution on how to pay off your mortgage quicker without a lump sum strategy or more frequent payments. But before moving to that, let’s review several key market numbers and precious metals.

Market performance – as at April 2, 2026. Thank you, Canada Life, for the Stats!

As you can see, the big winners have been the TSX (mainly due to resource and energy). The Canadian economy continues to be anemic with a projected 1% growth in 2026.

Precious Metals Update:

I have stated that gold is generally a safe-haven asset in a crisis, and for the most part, this has played out. Silver has always been more volatile, but in the end, it outperforms gold in a bull market. Let’s get some perspective before I explain what has unfolded since the Iran war broke out just over a month ago. Gold was up 65% last year, and silver 150%, and both had an incredible performance for my clients’ portfolios. These returns are neither normal nor to be expected regularly. Since the year 2000, when the last bull run happened, gold has averaged a 10.9% annual return and silver about 8%. Since 2000, gold has risen by over 1000% and silver by over 1200% by the end of 2025. The second important point is that there will be sizable corrections when these epic bull runs happen (often lasting over a decade). It is common to see several gold corrections of 20 to 30%, and silver much higher, which has occurred since Jan. 31, 2026. The excess exuberance of speculation, margin (borrowing to purchase, and then the painful margin calls), and sizable liquidity have all played significant roles in the volatility and downturn.

I have always told my clients that they need to have a multi-year time frame when purchasing physical gold and silver. For many, we build and hold a position for a decade or longer. So, what has transpired since the war broke out with Iran? Here I will cover a few of the key factors.

• Number one, the US dollar has risen in value and been the main safe-haven. Gold and the US dollar often have an inverse relationship. The dollar goes up in price, and gold goes down (this is magnified for silver). Usually, these are often short-term trends and will reverse once the Iranian war has a ceasefire or ends.
• The cost of energy has skyrocketed.  Several nations have had to sell some of their gold reserves to pay for the huge price rise of oil and gas and to protect their crashing currencies (Turkey is an example of this). Energy is so critical to the stability of a nation and its economy. Gold is very liquid and can be sold to raise cash. Nations sell gold to raise US dollars so they can purchase energy.
• Since the big crash on January 31st, gold and silver have stabilized and have been in a consolidation phase (normal and healthy), trading in a solid range. Gold $4080 and $4800 US. Key support is $4200 to $4480, and resistance is $4660 US. Silver has stabilized between $60 US and $90 US during the February and March period. Key support is near $70US.
• If Gold drops below $4000US an ounce to the $3500US range, this would be an excellent time to purchase. If silver dropped significantly below $70 an ounce into the mid $50’s, back up the truck. This would be an excellent time to purchase or add to your position.
• The fundamentals of why owning gold and silver have not changed. Currencies globally are being devalued with record deficits and the loss of purchasing power. The USA is running a 1.5 trillion deficit! Canada will be well over 80 billion in 2026. Globally, we have over 350 trillion in debt, but this does not include the unfunded liabilities of the governments or derivatives…adding these takes us into the quadrillions. Sobering!
• China made its largest purchase of silver in history in February 2026, and I see the aggressive buying continue by nations and central banks once geopolitical events settle down.
• In summary, gold and silver should be a significant portion of the wealth of all Canadians who can afford to purchase it, whether in cash, RRSP or TFSA. The precious metals bull run will continue into the 2030’s. Currently, I can get special pricing on silver RCM coins due to the recent liquidity and profit taking. Contact me if you are interested.

Are you renewing your mortgage soon?

Traditionally, most Canadians will choose between a fixed-term mortgage or a variable rate one and think these are their only options. This is not true. I have helped many of my clients over the years using a Manulife Bank Manulife One mortgage option that can help you accelerate paying off your home years earlier, without extra payments or frequency of payments. I have a referral agreement with Manulife Bank in the province of BC, and we can help many BC folk become mortgage-free a lot faster and significant less interest payments. Let me explain.

• When most people first get a mortgage, they’re given a payment schedule that shows how they’ll pay down their debt over a very long period of time – often 20 years or more. It doesn’t have to be this way.
• Traditional mortgages allow you to make extra payments, but they limit how often and how much. Plus, once you’ve made an extra payment, you can’t get that money back — so you need to be pretty sure you won’t need it for anything else.
• Mortgage payments represent a large monthly expense for most homeowners, and it’s easy to assume that those payments are making a large dent in your mortgage debt. Unfortunately, with traditional mortgages, your regular payments include both principal and interest portions. When you make a payment, only a portion of that payment actually reduces your debt.
• What’s the fastest way to pay down your mortgage?
  Most banks’ strategy:
  Make extra payments more often.
  When you make an extra payment, 100% of that payment goes toward reducing your principal. The more frequently you can make extra payments, the faster you’ll reduce your debt.
• Increase the size of extra payments.
  Since 100% of your extra payments go to reducing your principal, the larger the payment, the faster you’ll be debt-free. It’s that simple.
• Option two: Manulife One
  You can start quickly.
  When you use the account for everyday banking, all of your money can be used to reduce your principal. This makes it easier to pay down your principal and reduce your interest cost.
• No limits on principal pay-down.
  With Manulife One, you can pay down as much of your Main Account debt as you want, as frequently as you want — with no penalty. And if your needs change, you can always get that money back, up to your borrowing limit.
• All deposits immediately reduce principal.
  Every deposit you make to your Manulife One Main Account immediately reduces your principal by the full amount of the deposit. Interest is calculated daily and withdrawn from your account at the end of the month.

Who might be an ideal client for the Manulife One?

• If you are disciplined in managing your monthly income.
• You have a sizable amount of equity in the property.
• You live in BC, and not on Native land.
• You live in or near a major city or town.
• Manulife One is for residential homes on fixed foundations. Can be a single dwelling home, duplex, townhouse or condo. The product is not designed for commercial properties or raw land.
• You want to be mortgage-free potentially years or even a decade before a traditional mortgage.

If this interests you, I would be happy to create a free illustration for you with your numbers. Then I will introduce you to the Manulife One mortgage team, who will help you get set up.

Bill Westmacott, Owner: Precious metals specialist, life insurance, estate planning and many wealth solutions.