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Paul Kelly’s family farm in England has been selling $500 heirloom turkeys for two generations. Now, after a decade breeding them in Virginia, KellyBronze birds are looking to gobble up America’s Thanksgiving market.

After two decades of breeding what the Times of London once called the “Rolls-Royce of turkey,” Paul Kelly wanted to learn from experts with generations of knowledge in America, where turkey farming originated. But once the Briton arrived in 2003, and after spending several weeks visiting turkey farms across Virginia, West Virginia, North Carolina, Massachusetts and Pennsylvania, Kelly was “amazed” to find no farmer or butchery maintained the American traditions, including dry-plucking and hanging, that have set the Essex, England-based KellyBronze apart.

Then again, when a frozen American Butterball costs about a $1 a pound and you’re asking customers to pay around $15 a pound—or nearly $500 for a 32-lb. turkey—high quality has to come with more than a high price.

“I thought, it’s almost impertinent for an Englishman to take turkeys to America,” says Kelly. “But there’s an opportunity there. I started looking, and we took it big.”

Jewelry hasn’t lost its shine for gift-givers this holiday season, but business owners are expecting a bit more price sensitivity from customers after a surge in gold prices this year.

The holiday season remains a key period for the jewelry industry, with gift items accounting for a significant share of yearly revenues. But jewellers have had to raise prices as the cost of gold sharply increased — soaring roughly 55 per cent year-to-date to top the US$4,000 per ounce mark.

“Anybody and everybody I believe is raising prices and if they’re not, they should be. Because what you have in stock, you cannot replace for the same price if you’re going to reorder it today,” said Colin Nash, president of the Canadian Jewelry Group and owner of Nash Jewellers.

Based on what his business has seen, consumers are still spending so far this year, but by lesser amounts in the face of rising prices — not just for gold, but for the cost of living overall.

“I think that we’re still going to get the traffic, it’s just a question of how much and what are they going to be buying,” he said.

Nash said he thinks some price-sensitive consumers may avoid higher-end gold products altogether in favour of less expensive sterling silver items.

James Poag, co-owner of James O. Poag Jewellers, said he is also seeing consumers keeping a tighter grip on their wallets.

“Maybe some of the product mixes are changing, we’re seeing a lot of lab-grown diamonds and a lot of larger hollow pieces of jewelry as opposed to heavier cast pieces just due to the price of gold,” he said.

He’s also seen an increase in repairs, with people choosing to restore older pieces instead of replacing them, while other customers are trading in older pieces of jewelry and repurposing them into a new design.

Larger jewelry brands are also making adjustments.

Mejuri CEO and co-founder Noura Sakkijha said in a statement that the company introduced 10-karat solid gold products to provide more accessible price points. She added that offering a wide range of materials, including 10- and 14-karat gold as well as vermeil and sterling silver, gives consumers more choice.

“We also made selective and measured price adjustments on certain 14-karat pieces to reflect raw material increases. At the same time, we’re seeing customers explore different materials and gravitate toward more delicate pieces in gold, which we expect to continue during the holiday season,” she said.

But not all price adjustments come from decisions made at the store level.

Nash said that since his company works with higher-end brands like Rolex, Tudor and Roberto Coin, those brands dictate price increases and set their own manufacturer’s suggested retail price. He said once a brand decides that a price increase is needed, it notifies any stores carrying their product to follow suit.

“As soon as they (larger brands) say a 10 per cent price increase on each of the products, we have to follow suit because the prices here have to match what they’re selling for in Calgary, Vancouver, even in the (United) States,” Nash said.

Poag added that sharp rises in gold prices have made repricing difficult.

“It is a constant battle. We have 2,500 rings, so it literally takes months to go through to do repricing, so there certainly is a significant lag time,” he said.

Poag said since the run-up in the commodity price, an average consumer might be paying about 25 to 40 per cent more, depending on the gold content and the item they are purchasing.

There’s no doubt the holiday season is a key time for jewellers.

Poag said it’s typical in the industry for December sales to account for about 20 to 25 per cent of annual revenues.

As sales start to ramp up, Nash said it’s difficult to predict where the price of gold will go as it continues to trade above the US$4,000 mark. Prices hit US$4,300 in October.

“Maybe we hit our ceiling, maybe it’s coming down, but I don’t know. If I was a gambling man, I would still probably bet that gold will stay steady and keep moving just not at the pace that it has been,” he said.

Given the current price dynamics, Poag said he doesn’t think gold prices will come down significantly and it’s not worth it for consumers to delay purchasing in hopes of lower prices.

“I don’t think we’re going to see a significant downward trend,” he said.

This report by The Canadian Press was first published Nov. 16, 2025.

Daniel Johnson, The Canadian Press

DUBAI, United Arab Emirates, Nov. 16, 2025 (GLOBE NEWSWIRE) — Mutuum Finance (MUTM) is entering one of its most important development stages. The project has been moving steadily across its roadmap, and with Roadmap Phase 2 now nearing completion, interest around the new crypto has grown even stronger. As funding approaches the $20 million mark, the community is watching closely as the next crypto development phase prepares to open the door to the project’s first major product release.

A Clear Vision for a DeFi Crypto Lending Protocol

Mutuum Finance is building a decentralized lending protocol designed for users who want a secure and transparent way to supply assets and access liquidity. The system is powered by smart contracts on Ethereum and aims to streamline the way lenders and borrowers interact. The project focuses on automation, stability and long term sustainability, which has helped it gain traction among DeFi crypto followers looking for early projects with clear development results.

Since its launch in early 2025, Mutuum Finance has continued to grow its community. The project has now raised $18.7 million, drawing steady interest at each presale stage. It has also reached 18,000 holders, a strong milestone for a new crypto still in its development cycle. These numbers show consistent activity and rising demand across multiple market conditions.

The presale has been a major part of Mutuum Finance’s early traction. It began at $0.01 in Phase 1 and progressed to $0.035 in the current Phase 6. This marks a 250% increase from the starting price, one of the reasons why more buyers have taken interest as new stages opened.

Phase 6 itself has been moving quickly. Allocation has now passed 88%, signaling strong demand as the project advances toward the next price level. Many buyers are following the remaining supply closely because each stage has a fixed rate. Once Phase 6 sells out, the price will not return to current levels. This has added a sense of urgency across the community, especially with development milestones approaching.

Token Distribution and Expanded Access for Buyers

Mutuum Finance has a total supply of 4 billion MUTM tokens. Out of this supply, 45.5%, equal to 1.82 billion tokens, is allocated for the presale. This distribution ensures broad early access while giving the ecosystem room to grow after launch.

So far, the presale has sold 800 million tokens, showing stable progress across all phases. With Phase 6 nearing completion, the presale is entering a decisive stage as the team moves closer to Roadmap Phase 3.

To make entry easier, the project now supports card purchases with no limits. This update was announced on X and helped open the presale to users who do not want to rely only on on-chain transactions. The expanded payment options have supported a rise in new buyers as Phase 6 inches toward closure.

Advancing Through Roadmap Phase 2

Roadmap Phase 2 has focused on building and refining the main systems that will power the lending protocol. The team has been working on the liquidity pool mechanics, mtToken logic, interest rate model, debt tracking and liquidation functions. These components form the foundation of the upcoming V1 release.

Phase 2 has also included internal testing, risk checks and preparation for the first public version. The team has emphasized stability and clear design, which is important for a DeFi protocol that plans to handle large amounts of value. As this stage nears completion, it marks a major step forward and sets the groundwork for the next key milestone.

According to the official announcement on X, the first version of the protocol will go live in Q4 2025 on the Sepolia testnet. This version will include the liquidity pool, mtTokens, debt tokens and the liquidator bot. Having a confirmed release window has become a major confidence point for the community, since it shows that the project is moving on schedule.

V1 is expected to introduce the first real look at how Mutuum Finance will operate. Users will be able to test deposits, borrowing, liquidation functions and the mtToken growth system. For a new crypto project moving through its roadmap, delivering a clear and dated milestone is often seen as one of the strongest indicators of momentum.

Security Measures and Community Trust

Security remains one of the core priorities for Mutuum Finance. The project completed a CertiK review and achieved a 90 out of 100 Token Scan score, which is a positive result for a protocol still preparing for its first version. Alongside the audit, the team runs a $50,000 bug bounty to encourage early discovery of code issues. These steps have helped build trust within the community as the project moves into more advanced stages of development.

With Phase 6 over 88% allocated, funding at $18.7 million, a growing user base and V1 confirmed for Q4 2025, Mutuum Finance has entered one of its strongest periods so far. Roadmap Phase 2 is close to completion, and the project is preparing to shift into the next stage of development.

As the DeFi crypto sector continues to evolve, Mutuum Finance is positioning itself as a rising new crypto with clear progress, strong community activity and a roadmap that continues to move forward as expected.

For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://www.mutuum.com
Linktree: https://linktr.ee/mutuumfinance