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Planes, Trains, and Trade Pains

Planes, Trains, and Trade Pains

Wealth Awesome May Newsletter

Qayyum Rajan
May 29, 2025

In partnership with

Welcome to the May edition of the Wealth Awesome newsletter. Thank you to the 17,000+ 🇨🇦 subscribers who join us today!

Market Update

Gold hitting record highs

The price of gold keeps heating up. If the record-breaking year of 2024 wasn't enough, gold hit a major historic 2025 milestone by crossing the $3,000/ounce threshold!

Here are 3 Key Reasons:

Looming economic & political uncertainty
Increasing central bank demand
Rising National Debt - over $36 Trillion

So, could gold surge even higher?

According to a recent statement from Jeffrey Gundlach, famed American business man and investor… “Gold continues its bull market that we’ve been talking about for a couple of years, ever since it was down to $1,800.” He expects gold to reach $4,000/oz.

Is it time you learn more about precious metals?

Get all the answers in your free 2025 Gold & Silver Kit. Plus, if you request your free kit today, you could qualify for up to 10% Instant Match in Bonus Silver*.

Learn more >>

_{*Offer valid on qualified orders of Goldco premium products only. Receive up to 10% in free silver based on purchase amount; cannot be combined with other offers. Additional terms apply—see your customer agreement or contact your representative for details.}

Summary

Planes, Trains, and Trade Pains: Canadians Reroute Travel While GDP Tiptoes Forward

Canadian travel to the U.S. has taken a nosedive in early 2025, with air and land return trips plunging by 20% and 26% respectively.

Sparked by rising trade tensions and consumer discontent with U.S. policies, more Canadians are opting to stay domestic or visit non-U.S. destinations. This redirection could bolster Canada’s tourism and discretionary sectors, even as broader economic data signals fragility.

RBC expects Q1 GDP growth to clock in at 1.8% annualized, largely front-loaded in January, with momentum fading by March.

Trade disruptions, weak housing, and manufacturing job losses are casting a shadow over Q2. Yet, resilient consumer spending and improved current business sentiment are helping Canada avoid contraction — for now.

⏱️ TLDR: Canadians spending/protecting domestically is offsetting a portion of the overall economic weakness from trade and housing.

Key Takeaways 💡

1. 🇨🇦 Tariffs and Travel Recalculations: Canadian tourism may benefit as travelers snub the U.S. in favor of home or alternative destinations, redirecting spending locally.

2. 📉 GDP: Good Start, Weak Finish: While Q1 showed growth, it was uneven. Trade tensions, weather impacts, and waning investment signal tougher quarters ahead.

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Canadian stocks over the last 30 days (end April - May 2025)

A much greener month as markets and the world all but recovered from the craziness that was the tariff announcements. The TSX actually hit record all time highs in May - but there is general cracks in our economic foundation. There is a balanced perspective going forward - as we start to see the start of credit impacts (e.g Klarna posting massive losses)