Gold and Silver prices are strong again this week with gold coming within $100USD of its all time high. Spot gold rose 1% currently at $4,691 CAD. Silver is up since last week at $53.59CAD. US Dollar index DXY is down 0.5% to 97.99. SP500 Volatility Index VIX has fallen 14% since Fed Chair Powell’s last keynote address at Jackson Hole. Powell's statements were interpreted as bullish when he said “The shifting balance of risks may warrant” a policy change, indicating an increasingly high chance of lowering interest rates. WTI futures are up 70c from this time last week $64.08 with fading chances of peace in Ukraine. Equities marched higher up 2% now up over 16% Year over Year. ES SP500 futures are currently 6 handles off the all-time high now at 6,510. Former Federal Reserve Governor Lisa Cook has filed a lawsuit against the President for her dismissal on Tuesday. "This case challenges President Trump's unprecedented and illegal attempt to remove Governor Cook from her position which, if allowed to occur, would be the first of its kind in the Board's history," Abbe Lowell, Cook's attorney, wrote. Crypto has softened with BTC down 1% this week to $111,400 USD and ETH up 6% to $4485. S&P AeroSpace and Defense ETF XAR performed well up 3% in the past 5 days but still down ½% in the past month, at $220.27. Weekly Jobless Claims decreased 5,000 to a seasonally adjusted 229,000. The Gold/Silver ratio is flat at 87.68 with rising gold and silver. Longer 20 yr and 30 yr US government bonds both fell slightly to 4.84 and 4.88% respectively. Notably Japanese 30yr bonds hit an all time high of 3.24% with higher than target core inflation and comments from BOJ Gov Kazuo that wages are expected to climb leaving room for a future rate hike. Ai powered Government Contractor Palantir PLTR gained a paltry 2% this week, currently $158.12. Last week CEO Alex Karp sold $62.7 million in shares over two days, according to filings with the SEC, likely to cover tax obligations. PLTR currently has a PE Ratio over 500 in the trailing twelve months on net earning of $763M. It is unclear if their earnings will be able to grow sufficiently to justify the nearly $400B market cap but it is clear the market expects this Foreign and Domestic surveillance contractor to continue to grow. The probability of a single 25 bps rate cut in 2025 as priced by PolyMarket fell 1 pt to 25%, the probability of 50 bps in cuts rose 7pts to 45% and the probability of 75 bps in cuts rose 3pts to 18%. Short term rates are down 15 bps in the 2yr at 3.63. US Comex Copper Futures HG, a leading indicator of economic growth, is up 10 cents to 4.55usd/lb.