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The summer rally came to a screeching halt midway through the third quarter; ending at new 2022 lows for many global markets. The ongoing strength in the US dollar along with growth worries from rising interest rates brought the commodity rally to an end. Worries about slowing demand finally had an impact on oil prices. Despite fighting US dollar headwinds, gold was a relative bright spot. In the third quarter, the portfolio was down -5.3% versus the S&PTSX Small Cap index -2.5%. (more…)