June U.S. Treasury (ZNM26) note futures present a buying opportunity on more price strength. See on the daily bar chart for the June T-Note futures that prices are trending higher and today hit a 2.5-month high. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is also in a bullish posture, as the blue MACD line is above the red trigger line and both lines are trending higher. More News from Barchart Fundamentally, the marketplace is presently expectin ...

Market Analysis - The market has dropped below a short-term 50% level, with resistance identified between $4350.27 and $4381.44, while traders are targeting the intermediate 50% level at $4211.60 and the 50-day moving average at $4174.88, indicating potential buying interest in this area [1] - The 50-day moving average is a crucial trend indicator that has been guiding the market higher since mid-August, and a significant break below it could change the market sentiment from extremely bullish to just bullish [2] Historical Context - Historical patterns suggest a potential decline to $4041.76, as the market previously fell from $4381.44 to $3886.46 in six trading sessions, indicating that weak long positions may be liquidated before any upward movement [3] Gold Market Insights - Gold has experienced a remarkable 65% surge this year, marking its best performance in over 40 years, although a reset is anticipated before the uptrend resumes [4] - The fundamentals driving gold's performance, such as U.S. interest rate cuts and geopolitical issues, are expected to re-emerge in 2026, providing investors with new opportunities [5] Future Considerations - The awareness of a new bull market in gold may hinder the ability to replicate last year's gains due to higher margins and potential public selling, which could stall the rally [6]

Core Insights - Gold and silver prices have declined as investors take profits after a significant annual rally, with CME Group increasing margins on precious metal futures for the second time in a week [1][2] Price Movements - Spot gold prices decreased by 0.8% to $4,313.59 per ounce, marking a one-week low [2] - Spot silver prices fell 6.2% to $71.77 per ounce, retreating from earlier gains above $80 [2] Annual Performance - Gold has risen over 64% year-to-date, on track for its best annual performance since 1979 and marking the third consecutive positive year [3] - Silver has significantly outperformed gold in 2025, with annual gains nearing 150%, also the best yearly performance since 1979 [4] Market Drivers - The rally in gold prices has been driven by U.S. interest rate cuts, tariff tensions, and strong demand from ETFs and central banks [3] - Silver's price surge is attributed to low supply, high demand from India, and industrial needs alongside tariffs [4]

Group 1: Market Developments - China's government has launched three venture capital funds focused on "hard technology" sectors, indicating a strategic push in this area [3] - Asian markets are showing positive trends, with China and Japan rebounding after recent market turmoil [3] Group 2: Precious Metals Performance - Spot silver reached $75.42/oz, marking a +1.0% increase, while gold hit an all-time high of $4,530/oz with a +1.1% rise, and platinum surged to $2,463.60, up +9.0% [5] - Precious metals have experienced significant gains this year, with silver rising +158.6% YTD due to supply constraints and strong industrial demand [6] - Expectations of two U.S. interest rate cuts next year are driving purchases of commodities, as investors seek hard assets to hedge against potential currency weakness [7] Group 3: Gold Market Insights - Gold has broken a 40-year negative correlation with equities, suggesting potential implications for the S&P 500 and Nasdaq [8]

Price Trends - The national average price of gasoline has dropped to $2.79 per gallon, the lowest level since 2021, with a decrease of 4 cents from the previous week [1] - Diesel prices have also declined, with the national average currently at $3.671 per gallon, down 5.1 cents from a week ago [1] State Variations - Gas prices vary significantly by state, with Oklahoma at $2.366 per gallon and California at $4.469 per gallon [1] Market Dynamics - Global oil prices are influenced by geopolitical risks, such as sanctions on Russia and tensions in the Middle East, which push prices up, while fears of economic slowdown and oversupply pull them down [2] - Brent crude for February delivery is trading at $62.79 per barrel, down 1.51%, while WTI crude for January delivery is at $59.12 per barrel, down 1.53% [2] Demand Outlook - Ongoing negotiations for a Ukraine/Russia peace deal contribute to oil price stability, with expectations of upward revisions in demand due to stronger U.S. oil demand growth [3]

Core Insights - The article highlights the top-performing leveraged and inverse ETFs for the past week, emphasizing the significant returns driven by market volatility and investor sentiment regarding tech valuations and interest rate expectations [1]. Performance Summary - **ProShares UltraShort Ether ETF (ETHDA)**: Achieved a weekly return of 28.18%, benefiting from a decline in Ethereum prices amid a broader sell-off in riskier assets [2]. - **ProShares UltraShort Bitcoin ETF (SBIT)**: Recorded a weekly gain of 23.26%, influenced by fears over inflated tech stocks and reduced expectations for U.S. interest rate cuts [3]. - **MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZA)**: Delivered a return of 20.38%, as the technology sector faced pressure from retail sales and inflation data [4]. - **Direxion Daily Semiconductor Bear 3x Shares (SOXS)**: Gained 18.91% due to negative news regarding Meta's potential chip contract shift from Nvidia to Google-designed chips [4]. - **Direxion Daily GOOGL Bull 2X Shares (GGLLA)**: Achieved a return of 17.04%, as Google stock rallied amid the aforementioned chip contract considerations [5]. - **Direxion Daily Technology Bear 3X Shares (TECS)**: Saw a return of 16.40%, reflecting the overall bearish sentiment in the technology sector [5]. - **2x Long VIX Futures ETF (UVIXA)**: Gained 15.37%, as market volatility increased due to concerns over high tech stock valuations [6]. - **Direxion Daily Dow Jones Internet Bear 3X Shares (WEBS)**: Achieved a return of 14.08%, driven by ongoing concerns about high valuations in the tech sector [6]. - **ProShares Short Ether ETF (SETHA)**: Recorded a weekly gain of 13.53%, profiting from the decline in Ether prices [7]. - **ProShares Ultra VIX Short-Term Futures ETF (UVXY)**: Achieved a return of 11.97%, reflecting the volatility in the market [7].

Core Viewpoint - Oil prices have been declining for three consecutive sessions due to geopolitical developments and economic uncertainties [1] Group 1: Oil Market Dynamics - The U.S. is advocating for a peace deal between Russia and Ukraine, which could potentially increase oil supplies in the global market [1] - The ongoing uncertainty regarding U.S. interest rate cuts is affecting investor risk appetite, contributing to the decline in oil prices [1]