Gold and Silver are selling off with Gold down 3% in the past 5 days at $5855 CAD and down 10% month over month. Silver is down 21% this month and down 2% from the last 5 days now $93 CAD. Silver is still up 88% Year over Year. US Dollar index DXY is up 0.5% this week at 99.80 and up 0.5% YOY. SP500 Volatility Index VIX is up 7%. SP 500 ES futures rose 1% and are now trading 7420 off 200 handles from their recent new all time highs and having remained above 7000 since mid April..
On Wednesday the Bureau of Labor Statistics released a monthly report showing Annual CPI had accelerated to 4.2% in May, up from 3.8% in April and 3.3% in March. Higher inflation increases the probability of higher interest rates in both the open bond market and the necessity of the Federal Reserve to raise its benchmark overnight rate. Earlier this year, Trump stated he wouldn’t have chosen the new Fed Chair, Kevin Warsh, if Warsh intended to raise rates. Kevin Warsh's first Federal Open Market Committee (FOMC) meeting as Chair of the Federal Reserve is scheduled for June 16–17, 2026. Warsh signaled his push to redefine and measure inflation differently during his Senate confirmation hearing in April 2026
Crude WTI futures are down 7% at $86.50 and now up 34% YOY. On March 2, 2026, Iran's Islamic Revolutionary Guard Corps (IRGC) officially declared the Strait of Hormuz closed.
NYMEX NG natural gas futures which spiked over 100% above $7 in January are down 3% this week now trading $3.11 USD per Million BTU.
The Crypto collapse has paused, with BTC up 4% this week to $63,500 and ETH up 5% at $1670.
Crypto Holding Company Strategy MSTR is flat at $124 over the past 5 days. The CEO Micheal Saylor addressed the company’s first sale of a paltry 32 BTC on stage at BTC Prague, saying “I said to YOU, never sell your bitcoin.” The roughly $2.5m sale will help to fund distributions on Strategy’s Preferred Shares.
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Ai powered Government Contractor Palantir is down 8% - PLTR currently trades at $129, and up 1% YOY after falling from a 52 week high of 207.52.
NVDA is down 4% in the past 5 days at $205.75, is still a 5 Trillion dollar market cap. NVDA accounts for approximately 8% of the entire SP500
S&P AeroSpace and Defense ETF XAR rose 2% in the past 5 days to $283 after making a new All Time High in March of 295.23 following the assasination of the Iranian Supreme Leader. XAR is up 11% Year to Date
Weekly Jobless Claims were up 4,000 at 229,000 for the week ending June 5th.
The Gold/Silver ratio fell 1.5% now at 62.85 up from a low this year of 43.52 after falling steadily since late October and from its March high of 107. Longer 20 yr and 30 yr US government bonds yields rose above 5% and fell back, currently 5 and 4.99% respectively.
The Polymarket quoted probability of a total 0 bps in cuts rose to 77%. The probability of at least a 25 bps rate hike is currently 42%. Short term rates rose above 4% in the 2yr at 4.1%
US Comex Copper Futures HG, a leading indicator of economic growth, are up 1.5% $6.41 usd/lb after a recent new all time high in this week of $6.72 usd/lb.