Gold and Silver prices continued climbing with Gold flat in the past 5 days though up 5% in the past month at $5893 CAD. Silver is up 2.5% from last week to $81.30 CAD. US Dollar index DXY is down 0.5% this week at 98.00. SP500 Volatility Index VIX fell 9%. SP 500 ES futures are now trading 6881.5 up 0.5% this past week and in spitting distance of the key 7000 level. Markets are pricing in over 90% probability of a December quarter-point rate cut. Crude WTI futures have lifted 1% to $59.53.
Apple AAPL, currently $280.70, made a new all time high above 4,2 trillion market cap on Tuesday. According to Google Trends, worldwide interest in “Ai Stocks” has fallen over 90% from its peak earlier this year.
Ai powered Government Contractor Palantir is up 6% - PLTR currently trades at $165.77, down 7.25% this past month. NVDA is up 2.5% in the past 5 days at $183.38. Nvidia is no longer a $5 Trillion dollar company by Market Capitalization despite the announcement of Trump's “Genesis Mission” to establish a national science centric AGI. He predicts the project will have the urgency, and ambition of the Manhattan Project.
Crypto’s storm has abated with BTC up 1.5% this week to $92,400 from a recent low of $80,500 USD. ETH is up 5% to $3179 this past week and now only down 1.5% this past month.
Republican Congresswoman Marjory Taylor Green who resigned effective Jan 5th, 2026 - In response to multiple bomb threats - received kind words of welcome from the President on Saturday. In a phone interview with NBC, Trump said “It’s not going to be easy for her” to revive her career in politics, adding, “I’d love to see that.”
S&P AeroSpace and Defense ETF XAR rose 2% in the past 5 days to $233.65
Weekly Jobless Claims fell 27000 to 191,000 for the period ending Nov 29nd. The Gold/Silver ratio is down 2.25% at 72.49. Longer 20 yr and 30 yr US government bonds are up 9-10bps to 4.72 and 4.76% respectively.
With the first two rate cuts now in since the Sept 17th FOMC meeting; the probability of a total 50 bps in cuts (no more cuts) in 2025 fell 6pts to 7% and the probability of 75 bps (one more cut) rose 6pts to 92%. Short term rates are flat in the 2yr at 3.52. US Comex Copper Futures HG, a leading indicator of economic growth, rose 3.5% to $5.47 usd/lb, closing in on its previous high of $5.96 before President Trump announced a tariff exemption that collapsed the price nearly 25% overnight.