Gold and Silver prices stalled with Gold down 1% in the past 5 days at $6982 CAD still up 1% month over month. Silver is up 1% this month and down 0.5% from the last 5 days now $114.21CAD. Silver is still up 144% Year over Year. US Dollar index DXY is up 1.25% this week at 100.01 and down 4% YOY. SP500 Volatility Index VIX fell 28%. SP 500 ES futures rose 1% and are now trading 6724 having failed to trade above 7000 for the 4th consecytive week this year. The Dow Jones 30 is below 50,000.
On Monday Oil, which had traded as high as $119.48, dropped back below $100 as President Trump announced that the Strait of Hormuz was in “great shape” and was effectively open. He claimed the war would end “very soon,” By Tuesday, Oil had fallen below $80 before climbing back up toward $100 over the rest of the week. In his first public address since succeeding his father, Mojtaba Khamenei declared on March 12 that the Strait of Hormuz will remain closed.
Crude WTI futures are down 3.5% at $94.66 and now down up 41% YOY. On March 2, 2026, Iran's Islamic Revolutionary Guard Corps (IRGC) officially declared the strait closed, threatening to "set fire" to any ship attempting to cross. Iran has hit several vessels in the strait. The Strait of Hormuz is the world’s most critical oil chokepoint, facilitating the transit of approximately 20% of global oil consumption as of early 2026.
NYMEX NG natural gas futures which spiked over 100% above $7 in January are now trading $3.16 USD per Million BTU.
Crypto is firming, having rallied back with BTC up 8% this week to $73,600 and ETH up 11% at $2203. The crypto crash originally started on Oct. 10 when Trump threatened to impose an extra 100% tariff on Chinese imports
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Ai powered Government Contractor Palantir is up 1% - PLTR currently trades at $152.17, and up 85% YOY after falling from a 52 week high of 207.52. NVDA is up 2.5% in the past 5 days at $184.09 despite trading up to $197.62 following last Wednesday's announcement of record quarterly revenue and record full year revenue up 65%.
S&P AeroSpace and Defense ETF XAR fell 4% in the past 5 days to $264.94 after making a new All Time High of 295.23 Last Monday following the assasination of the Iranian Supreme Leader. XAR is up 69% in the past 12 months.
Weekly Jobless Claims were down 1000 at 213,000 for the 1st week of March. The Gold/Silver ratio rose 1% now at 61.67 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 sold off, with yields up 7 bps respectively to 4.85 and 4.87% respectively.
Japan's 40-year bond yields which surged to 4.21% in January have fallen back, currently trading up from last week at 3.74%.
The Polymarket quoted probability of a total 75 bps in cuts in 2026 stands at 11%, the probability of 50 bps is 26% and the probability of 25 bps is 31%. Short term rates are up 13 bps in the 2yr at 3.70.
US Comex Copper Futures HG, a leading indicator of economic growth, fell 0.5% to $5.80 usd/lb after hitting a new all time high in January of $6.58 usd/lb