🕐 Market Recap | Friday, May 15, 2026
THE BIG PICTURE
After five weeks of nearly uninterrupted gains, the market just got a reality check. SPX $S&P 500 Index (.SPX.US)$ down -0.94% at 7,430. VIX $CBOE Volatility S&P 500 Index (.VIX.US)$ surging +4.63% to 18.06 — and the chart shows it spiked to 19.43 at the open before pulling back. That is dangerously close to the 20 level which historically signals heightened market fear.
Three things hit simultaneously thi...

$XAG/USD (XAGUSD.FX)$ $XAU/USD (XAUUSD.CFD)$
Hope precious metal investors survived the black friday yesterday - to put it in context, if you survived 30th Jan, this is a mere scratch haha.
Gold continued a 4th consecutive day of red candles, but the bottom may be in, based on RSI (oversold territory). A longer wick at the bottom at closing today hints that selling pressure is being rejected. We may be due for a rebound (or at least the bleed is stemmed) coming next week, assuming TACO doesn't pull ...

$XAG/USD (XAGUSD.FX)$ $XAU/USD (XAUUSD.CFD)$
The irony - Warsh takes over as Fed head today and metals does a dump.
Not as bad a diarrhoea as 30th Jan mind you - the date of PTSD for all metal investors! - but coincidentally, that was also the date Warsh was nominated to be Fed head by Trump.
Seems this Warsh dude and metals don't go well together LOL.

$XAG/USD (XAGUSD.FX)$ who are we blaming this time.
comex n JP boys might not be reason.
china n usa talk?

$XAG/USD (XAGUSD.FX)$ $XAU/USD (XAUUSD.CFD)$
News of Modi asking Indians to cease buying gold (and jacking up the precious metal tariffs) is a headwind.
This is on top of the inflationary climate from oil shock. Not great for metals in the short to midterm.
Silver's charts are still slightly above the 5 day moving average, with RSI still showing some buying.
However it ended with a red candle after 6 consecutive green candles. This red candle has a taller wick on top, which may hint at selling pr...

$XAG/USD (XAGUSD.FX)$
Based on technical indicators, SLV appears to be in overbought territory
RSI is high. Candlestick chart has a tall wick on top.
Silver has had a good run for the past few days - congrats to metal investors - but my gut feel is chasing FOMO at this price has a higher chance of getting one stuck at the peak, if a correction happens.
NFA.  And of course, any Trump tweet can trump - no pun intended - any technical analysis.

$XAU/USD (XAUUSD.CFD)$ $XAG/USD (XAGUSD.FX)$
Not good for precious metals, as high inflation will trigger less chance of a rate cut from the Fed.
Market has priced in a 98% no rate cut for June's Fed meeting after this piece of news.

$XAG/USD (XAGUSD.FX)$ vs China Shag
1. Price keep increasing
2. $XAG/USD (XAGUSD.FX)$ discount once had pull further
3. SLV added more Silver bars and Shares to abitrage + almost played with AP sticking at the price value
4. PSLV adding reserve without much diluting Oz/Share + higher discount
5. Shag is signaling bullish and $XAG/USD (XAGUSD.FX)$ will follow with COMEX storage keep decreasing, SLV keep abitraging
Signal for now is bullish