Gold and Silver are selling off with Gold down 2% in the past 5 days at $5800CAD and down 8% month over month. Silver is down 22% this month and down 8% from the last 5 days now $84.14 CAD. Silver is still up 70% Year over Year. US Dollar index DXY is up 0.5% this week at 101.21 and up 2% YOY. SP500 Volatility Index VIX is up 8%. SP 500 ES futures fell 1.5% and are now trading 7460 off 200 handles from their new all time highs and having remained above 7000 since mid April..
Global markets were primarily driven by a sharp sell-off in AI and semiconductor stocks, ongoing anxiety over the U.S. Federal Reserve's hawkish interest rate stance, and a cooling oil market following recent geopolitical shifts in the Middle East.
On Thursday South Korea’s KOSPI Composite fell over 8% triggering circuit breakers. The technology sector accounts for roughly 55% to 65% of the total market capitalization of the KOSPI Composite Index
Crude WTI futures are down 8.5% at $69.00 and now down 12% YOY. On March 2, 2026, Iran's Islamic Revolutionary Guard Corps (IRGC) officially declared the Strait of Hormuz closed.
On June 17th President Trump stated that US oil reserves would run dry in 4 weeks without an Iranian compromise. “We run out of reserves at about four weeks,” Trump said
NYMEX NG natural gas futures which spiked over 100% above $7 in January are up 4% this week now trading $3.31 USD per Million BTU.
The Crypto collapse has paused near the 52 wk low, with BTC down 6% this week to $60,000 and ETH down 8% at $1570. Crypto Holding Company Strategy MSTR is down 27% at $85.00 over the past 5 days. .
Ai powered Government Contractor Palantir is down 10% - PLTR currently trades at $113.28, and down 35% YOY after falling from a 52 week high of 207.52.
NVDA is down 8% in the past 5 days at $194.20, and is no longer a 5 Trillion dollar market cap. NVDA accounts for approximately 8% of the entire SP500
SPCX SpaceX is down 10% this week at $158, just above $2 Trillion dollars in market cap. Spacex Fiscal Year loss stands just below $5 billion.
S&P AeroSpace and Defense ETF XAR fell 3% in the past 5 days to $274.84 after making a new All Time High in March of 295.23 following the assasination of the Iranian Supreme Leader. XAR is up 8% Year to Date
Weekly Jobless Claims were down 12,000 at 215,000 for the week ending June 20th.
The Gold/Silver ratio rose 7% now at 69.00 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 fell below 5%, currently 4.87% respectively.
The Polymarket quoted probability of a total 0 bps in cuts fell to 79%. The probability of at least a 25 bps rate hike is currently 53%. Short term rates stand above 4% in the 2yr at 4.08%
US Comex Copper Futures HG, a leading indicator of economic growth, are down 3% $6.14 usd/lb after a recent new all time high in this week of $6.72 usd/lb..