Gold and Silver prices rose moderately with Gold up 3% in the past 5 days at $6483CAD and down 1% month over month. Silver is up 8% this month and up 8% from the last 5 days now $111CAD. Silver is still up 150% Year over Year. US Dollar index DXY is down 0.25% this week at 97.92 and down 2% YOY. SP500 Volatility Index VIX is down 0.5%. SP 500 ES futures rose 2% and are now trading 7413 having remained above 7000 since mid April..
On Tuesday the President announced the pause of Project Freedom.. The protection of stranded ships in the strait of Homuz had been launched on Monday. On the same day, he also announced that Operation Epic Fury, the joint military campaign with Israel against Iran, has ended. On Thursday the US military conducted further strikes on Iranian targets after Iranian forces attacked 3 US destroyers in the strait.
Crude WTI futures are down 5% at $95.29 and now up 68% YOY. On March 2, 2026, Iran's Islamic Revolutionary Guard Corps (IRGC) officially declared the strait closed.
NYMEX NG natural gas futures which spiked over 100% above $7 in January are now trading $2.84 USD per Million BTU.
Crypto is consolidating, having rallied back with BTC up 2.5% this week to $80,200 and ETH flat at $2300. 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 down 6% - PLTR currently trades at $134.31, and up 9% YOY after falling from a 52 week high of 207.52.
NVDA is up 7% in the past 5 days at $215.83, down from a new all time high of $216.83 and is a 5 Trillion dollar market cap
S&P AeroSpace and Defense ETF XAR rose 2% in the past 5 days to $264.60 after making a new All Time High of 295.23 following the assasination of the Iranian Supreme Leader. XAR is up 6% Year to Date
Weekly Jobless Claims were up 10,000 at 200,000 for the week ending May 1st.
The Gold/Silver ratio fell 54% now at 58.51 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 are creeping towards 5%, currently 4.92 and 4.94% respectively.
The Polymarket quoted probability of a total 0 bps in cuts rose to 56%. The probability of 25 bps is 19%. Short term rates are up in the 2yr at 3.89.
US Comex Copper Futures HG, a leading indicator of economic growth, are up 5% $6.29 usd/lb after hitting a new all time high in January of $6.58 usd/lb.