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5 Things to Know Today (Nov 13): Gold Slump, Weak Loonie, BoC Odds & Nvidia

  Canadian Money Brief • Friday, November 13, 2026 Gold is sliding, the loonie is sagging, and Monday's inflation report looms over the Bank of Canada's next move. Here are the five things Canadians should know before the weekend. 1 Gold slump drags the TSX lower The S&P/TSX Composite fell 274.53 points (-0.75%) to 36,137.19 on Thursday as materials sank 3.2% and gold dropped about 3% to roughly US$3,878 an ounce, its lowest level in more than a year. Wall Street slipped too: Dow 52,297.09, S&P 500 7,592.40, Nasdaq 25,366.09. The TSX is now about 2.5% below its August record of 37,069. Futures were flat early Friday as gold bounced 0.4%. What it means for you: Gold miners carry real weight in Canadian index funds. Check how much of your TFSA or RRSP leans on materials, and avoid reacting to a single down day. 2 Loonie slips to a one-month low as US inflation widens the rate gap The Canadian dollar closed Thursday at US$0.7015 (C$1.4255 per US$1), its weakest close si...
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Canada Commits to Buying 12 New Submarines to Boost Defense Capabilities

 

In a significant move, the Canadian government has announced its intention to acquire 12 conventionally-powered submarines. The decision comes after mounting criticism of Canada’s defense spending by allies, particularly the United States. These new submarines, designed for under-ice operations, will replace the aging Victoria-class boats currently in service.

Key Points:

  • Massive Acquisition: The submarine program is estimated to be worth at least $60 billion Canadian dollars, attracting interest from shipbuilders worldwide.
  • Sovereignty and Security: With the longest coastline globally, Canada aims to protect its sovereignty and contribute to the security of its partners and NATO allies.
  • GDP Target: The investment in submarines will help Canada meet the 2 percent GDP target for defense spending.
  • Procurement Process: The Department of National Defence is engaging with manufacturers and potential partners, with a formal request for information expected in fall 2024.
  • Global Interest: Shipbuilders from Sweden, Germany, Spain, France, Japan, and South Korea are among those vying for the contract.

This strategic move underscores Canada’s commitment to enhancing its naval capabilities and ensuring maritime security in a changing world. The acquisition of these submarines represents a significant step forward for the Canadian Armed Forces and reinforces their role within NATO.

Note: The exact cost, delivery timeline, and specific shipbuilders are yet to be confirmed, but this announcement signals a decisive shift in Canada’s defense posture.


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