Gold & Silver Afternoon Update 10/16/2025 | The Bregar Minute
A somewhat challenging rest of the day for palladium, platinum, and silver because of the -1.5% S&P selloff from the London close into roughly 2:30pmET. Gold, on the other hand, absorbed two bouts of selling pressure very well during this period of time…and I think that’s because of support from the bond market (which aggressively moved rates lower across the curve, including in SOFR) during this risk-off window. Since then, gold’s been on a tear to new all-time highs thanks to the stock & palladium market bounces into the close / lack of a pullback for bonds. With spot gold & silver now closing NY trade on session highs, with the PGMs now putting upside pressure on their COMEX closing ranges that they lost earlier, and with the S&Ps regaining yesterday’s lows in the end…I wouldn’t be surprised if this crazy precious metal rally continues into tomorrow. Watch for start-of-hour algorithmic flows, broader USD flows following PBOC’s daily USDCNY fix, and Asian equity flows into the 2amET hourly close as potential inflection points tonight.
This material is provided strictly for informational purposes and should not be construed as investment, legal, tax, or financial advice. Precious metals and other investments involve risk and may not be suitable for all investors. Past performance is not a guarantee of future results, and market conditions can change without notice. The information presented is believed to be reliable; however, no representation or warranty, express or implied, is made as to its accuracy, completeness, or timeliness. No liability will be accepted for any loss or damages arising from the use of, or reliance on, this material. This publication does not constitute an offer, solicitation, or recommendation to buy or sell any product, security, or investment strategy. Readers should consult with independent financial, legal, tax, and other professional advisors before making investment decisions. All product names, trademarks, and company names mentioned are the property of their respective owners. Reference to them does not imply endorsement.