Weekly Market Update Dec 26 (End of Day Holiday Edition)

Gold and Silver prices continued climbing  with Gold up 3.5%  in the past 5 days at $6198CAD.  Silver is up 16.5%  from last week to $108.43 CAD and crossed above $75 USD for the first time. Silver is currently up 167% YTD in USD terms.  US Dollar index DXY is down 0.5%  this week at  98.05. SP500 Volatility Index VIX fell 16.5%. SP 500 ES futures are now trading 6979 up 2.25% this past  week and still shy of  the key 7000 level after hitting a new high on Xmas Day at 6994. Crude WTI futures have lifted +2% to $56.74 still up after late sell off on Russia Ukraine peace talks. President Zelensky plans to meet President Trump on Sunday in Florida. The Ukrainian President said a 20 pt peace plan is 90% done but needs to be finalized with input from Russia and Europe. NATO warplanes were scrambled on Xmas day when Putin dispatched his Tu-95MS Nuclear Bombers and Su-33 fighters in international waters in the Norwegian Sea, north of Britain. In an unrelated escalation of geopolitical tensions, the USA launched cruise missiles against ISIL/ISIS targets in Nigeria on Dec 25th. Last February U.S. Congressman Scott Perry claimed that USAID has funded Boko Haram, ISIS/ISIL and Al Qaeda. Ai powered Government Contractor Palantir is up 1% - PLTR currently trades at $188.71, up  139% this YTD. NVDA is up  8% in the past 5 days and up  5% this past  month at $190.53. Crypto’s rebound has paused with  BTC down  1% this week to  $87,400 and a recent low of $80,500 USD.  ETH is down 1.5% to $2928 this past week and down 1% this past month. S&P AeroSpace and Defense ETF XAR rose  5% in the past 5 days to $246.42 Weekly Jobless Claims fell  10,000 to 214,000 for the period ending Dec 20th. The Gold/Silver ratio  is down  11.25%  at  57.12, its lowest level since March 2013 though still nearly  twice  the 31.71  low of March 2011.  Longer 20 yr and 30 yr US government bonds are up flat 4.77 and 4.82% respectively. With a total of three rate cuts now in 2025;  the Polymarket quoted probability of a total 100 bps in cuts coming next year  is currently 16%,  75 bps in cuts in 2026 stands at  19% and the probability of 50 bps is  23%.  Short term rates are up 1 bp  in the 2yr at 3.48.   US Comex Copper Futures HG, a leading indicator of economic growth,  rose   8%  to $5.84 usd/lb. On Monday London Metals Exchange LME Copper hit a new all time high above $12,000 per tonne. Chinese demand has softened though traders are said to be front running tariff risk and Datacenter demand, keeping US bound shipments buoyed.