Gold and Silver prices are languishing with Gold down 3% in the past 5 days at $6056 CAD and down 2% month over month. Silver is down 3.5% this month and down 7% from the last 5 days now $95.50 CAD. Silver is still up 110% Year over Year. US Dollar index DXY is up 1% this week at 99.90 and up 0.5% YOY. SP500 Volatility Index VIX is up 8%. SP 500 ES futures fell 1% and are now trading 7510 off 100 handles from their new all time highs and having remained above 7000 since mid April..
The U.S. House of Representatives passed a war powers resolution on June 3, 2026, by a vote of 215–208. The measure sought to require congressional authorization for continued U.S. military hostilities against Iran and was viewed as a bipartisan rebuke of President Trump’s handling of the conflict. Four Republicans joined Democrats in support.
The House resolution passed on June 3 directs the president to end U.S. military hostilities against Iran unless Congress authorizes them. However, the resolution does not automatically stop military operations, and President Trump could challenge it or veto any related legislation. The measure still faces additional hurdles, including Senate action.
Crude WTI futures are up 2.5% at $91 and now up 49% 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 $3.25 USD per Million BTU.
Crypto is collapsing, with BTC down 17% this week to $61,000 and ETH is down 21% at $1600.
Crypto Holding Company Strategy MSTR is down 20% at $119 over the past 5 days. The CEO Micheal Saylor has referred to the selloff as a “Capital Rotation” and commented that “ Volatility creates Opportunity.” The crypto crash originally started on Oct. 10 when Trump threatened to impose an extra 100% tariff on Chinese imports
Ai powered Government Contractor Palantir is down 14% - PLTR currently trades at $137.50, and up 22% YOY after falling from a 52 week high of 207.52.
NVDA is down 3% in the past 5 days at $208.75, is still a 5 Trillion dollar market cap. NVDA accounts for approximately 8% of the entire SP500
S&P AeroSpace and Defense ETF XAR fell 2.5% in the past 5 days to $277 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 13,000 at 225,000 for the week ending May 29th.
The Gold/Silver ratio rose 4% now at 63.10 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%, currently 5.02 and 5% respectively.
The Polymarket quoted probability of a total 0 bps in cuts rose to 70%. The probability of at least a 25 bps rate hike is currently 50%. Short term rates rose above 4% in the 2yr at 4.16%
US Comex Copper Futures HG, a leading indicator of economic growth, are down 1.5% $6.29 usd/lb after a recent new all time high in this week of $6.72 usd/lb.