Gold and Silver fell with Gold down 3% in the past 5 days at $5634CAD and down 7% month over month. Silver is down 6% this month and down 6% from the last 5 days now $78.38 CAD. Silver is still up 49% Year over Year. US Dollar index DXY is flat this week at 100.75 and up 3% YOY. SP500 Volatility Index VIX is up 15%. SP 500 ES futures fell 1.5% and are now trading 7497 off 150 handles from their all time highs and having remained above 7000 since mid April..
China slashed crude oil imports by roughly 41% year-over-year, hitting a ten-year low. Beijing is drawing down massive strategic stockpiles to avoid high market prices, curb global energy inflation, and leverage market power. Additionally, surging domestic EV adoption has permanently reduced China's long-term gasoline and diesel demand.
Renewed U.S.-Iran conflict and shipping threats have pushed the U.S. Strategic Petroleum Reserve to a 43-year low of 316.5 million barrels. With the Strait of Hormuz restricted, global oil supply chains are fracturing, causing Brent crude prices to surge over 10% past $85 per barrel amid heightened inflation fears.
Crude WTI futures are up 11% at $81.78 and now up 19% 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 flat this week now trading $2.91 USD per Million BTU.
The Crypto collapse has paused near the 52 wk low, with BTC flat this week to $63,800 and ETH up 6% at $1841. Crypto Holding Company Strategy MSTR is up 4% at $94.85 over the past 5 days. .
Ai powered Government Contractor Palantir is UP 4% - PLTR currently trades at $132.38, and down 6% YOY after falling from a 52 week high of 207.52.
NVDA is down 3 in the past 5 days at $202.81, and is over a 5 Trillion dollar market cap. NVDA accounts for approximately 8% of the entire SP500
SPCX SpaceX is down 14% this week at $123.99, below $2 Trillion dollars in market cap. Spacex Fiscal Year loss stands just below $5 billion.
S&P AeroSpace and Defense ETF XAR fell 4% in the past 5 days to $258.57 after making a new All Time High in March of 295.23 following the assasination of the Iranian Supreme Leader. XAR is up 13% Year to Date
Weekly Jobless Claims were down 8,000 at 208,000 for the week ending July 11th.
The Gold/Silver ratio rose 4% now at 71.80 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 remain above 5%, currently 5.08 and 5.07% respectively.
The Polymarket quoted probability of a total 0 rate cuts remains at 84%. The probability of at least a 25 bps rate hike is currently 53%. Short term rates stand above 4% in the 2yr at 4.18%
US Comex Copper Futures HG, a leading indicator of economic growth, are flat $6.27 usd/lb after a recent new all time high in this week of $6.72 usd/lb..