Gold & Silver Afternoon Update 12/3/2025 | The Bregar Minute
A poor rest of the day for gold in that it couldn’t regain the MSFT-induced losses from the 9amET hour. The broader stock and crypto markets ultimately shrugged off the unsubstantiated reporting from The Information when Microsoft swiftly denied the core claim of reduced AI sales quotes, but gold continued to languish. With the broader USD now about to finish the day near session lows (agreeing with the risk-on vibe), and with US yields now about to do the same (essentially brushing off the hawkish reaction to the decent ISM Services report), gold should be concluding the day closer to its session highs. The fact that it’s not should be a warning sign to the bulls to wake up, because the longer we now stay below the 55hr moving average I think the risk increases of another bearish algo attack that solidifies Monday’s high as another short-term market top. Silver still technically looks ok here because of a strong stock market, which helped it defend its 55hr moving average this afternoon.
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