Market Update Jun 27th Gold and Silver prices have been mixed since last week. Spot dropped 3% to $4,495  CAD per ounce for Gold. Silver pushed higher, up 40 cents

Gold and Silver prices have been mixed since last week. Spot dropped 3% to $4,495  CAD per ounce for Gold. Silver pushed higher, up 40 cents  since Monday to $49.80 CAD. Rates were not the primary driver this time, rather the market began the week with a plummeting oil price. Sunday WTI futures opened at $78 USD and plummeted for the next 24hrs to below $65, spending the week near this level. The Evaporation of speculative demand for Oil on Sunday Led  Trumps’ Monday announcement that Israel and Iran had agreed to end what he suggested “should be called ‘THE 12 DAY WAR’ with no immediate response from Benjamin Netanyahu. American sentiment changes against Israel and the nuclear based war are seen in the skyrocketing rise of Zohran Mamdani’s popularity as the potential next mayor of NYC. The 33 year old Muslim New York state Assemblyman won the Democratic Mayoral Primary on Wednesday. A Tenassee Republican Congressman Rep. Andy Ogles wrote on X “He needs to be DEPORTED…. Subject to Denaturalization proceeding.” While Ogles had several avenues of character attacks focussing on alleged racism, Mamdani's religion, and his economic political stance, the Republican Rep. did not allege that Mr. Mamdani,  had committed any crime.  The Dollar Index is lower by  1%  at 97.36. Equities hit new  all time highs Thursday on the SP500 ES futures at 6,205.25 and  is currently holding at 6,202.25 after an astounding 4% rise since Monday.  S&P AeroSpace and Defense ETF XAR rose with the market  by  4.5% to $206.96. Weekly Jobless Claims dropped 10,000 to 236,000.  The Gold/Silver ratio  fell another 2% to  90.23, a direct representation of strong silver and a weakening gold. Longer 20 yr and 30 yr US government bond rates have dropped again to  4.81% respectively. On Wednesday, Trump attacked Fed Chair Powell calling him “terrible” and announcing that he knows “within 3 to 4 people” whom he is going to pick to replace Fed Chair Powell. This is a clear signal that the next Chairman of The Fed will be chosen both for a far more Dovish economic stance  and  to better serve the will of the President. The probability of a 25 bps rate cut in 2025 as priced by PolyMarket fell from 21% last week to 19%,  the probability of a 50 bps cut rose from 28% to 32% and the probability of 75bps in cuts rose to 2nd place at 20%. Short term rates fell 18bps in the 2yr from 3.92 to 3.74 since Monday. Israel has not attacked Iran since. Times of Israel reports that the IDF claims is has "fully met... the objectives and goals." The IRGC likewise claimed victory in "this imposed war."