Gold & Silver Morning Update 11/27/2025 | The Bregar Minute
A strange overnight session for the precious metals; almost as if the trading algorithms were programmed to hunt stop orders in both directions amid the holiday-thinned trading conditions. The first move for gold & silver was to the downside during the 8amET hour, mind you this was rational given USDCNH’s pop following one of the PBOC’s least supportive CNY fixes in a while. Silver then suddenly surged 2% between the Asian close and the European open (lifting gold back to breakeven) when platinum re-tested the high it made after an inexplicable 3% surge during the 8pmET hour. Finally, silver and the PGMs sold off (seemingly with Bitcoin) into the NY open, but gold hung in there (likely because it didn’t benefit as much from the early morning rally and because European bonds eventually found a bid).
Platinum’s blow-off top from overnight trade, silver’s give-up of its breakout above yesterday’s high, and Bitcoin threatening to fall back below yesterday’s highs are all a little bit discouraging for the precious metal bulls as we now navigate a shortened US Thanksgiving session. The COMEX futures will close early at 2:30pmET.
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