Gold and Silver are selling off with Gold down 2% in the past 5 days at $5885CAD and down 6% month over month. Silver is down 14% this month and down 6% from the last 5 days now $91.50 CAD. Silver is still up 85% Year over Year. US Dollar index DXY is up 1.25% this week at 100.80 and up 2.5% YOY. SP500 Volatility Index VIX is up 17%. SP 500 ES futures rose 0.25% and are now trading 7565 off 100 handles from their new all time highs and having remained above 7000 since mid April..
The Last Federal Open Market Committee FOMC concluded on Wednesday with a 12-0 vote to leave rates unchanged at 3.50 to 3.75%. The updated Median estimate Fed Funds Rate is now 3.8%. This Signals the committee now expects a minimum of one rate hike in 2026.
The US Navy has officially lifted it’s blockade of Iranian ports as both Presidents Donald Trump and Masoud Pezeshkian of Iran have signed a Memorandum of Understanding (MOU). The MOU outlines an immediate ceasefire including in Lebanon, the reopening of the Strait of Hormuz, Iran’s reaffirmation that it will not develop nuclear weapons, waivers of existing sanctions on Iranian oil exports, unfrozen Iranian assets, a $300 billion reconstruction fund for Iran, downblending of Iran’s existing enriched uranium supplies, and a 60 day window to negotiate a permanent treaty. The MOU does not give Iran the right to control or tax the Strait of Hormuz.
Crude WTI futures are down 6% at $76.50 and now down 2% 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 up 4% this week now trading $3.21 USD per Million BTU.
The Crypto collapse has paused, with BTC flat this week to $63,200 and ETH is up 2.5% at $1700. Crypto Holding Company Strategy MSTR is down 6% at $112.5 over the past 5 days. .
Ai powered Government Contractor Palantir is down 2% - PLTR currently trades at $128.50, and down 8% YOY after falling from a 52 week high of 207.52. NVDA is up 3% in the past 5 days at $210.69, is still a 5 Trillion dollar market cap. NVDA accounts for approximately 8% of the entire SP500
SPCX SpaceX is up 23% this week at $185, just below $2.5 Trillion dollars in market cap. Spacex Fiscal Year loss stands just below $5 billion.
S&P AeroSpace and Defense ETF XAR fell 0.5% in the past 5 days to $284.29 after making a new All Time High in March of 295.23 following the assasination of the Iranian Supreme Leader. XAR is up 12% Year to Date
Weekly Jobless Claims were up 4,000 at 226,000 for the week ending June 13th.
The Gold/Silver ratio rose 4% now at 64.31 up from a low this year of 43.52 after falling steadily since late October and from its March 2025 high of 107. Longer 20 yr and 30 yr US government bonds yields fell below 5%, currently 4.91 and 4.90% respectively.
The Polymarket quoted probability of a total 0 bps in cuts rose to 81%. The probability of at least a 25 bps rate hike is currently 67%. Short term rates stand at 4% in the 2yr at 4.18%
US Comex Copper Futures HG, a leading indicator of economic growth, are down 3% $6.33 usd/lb after a recent new all time high in this week of $6.72 usd/lb..