Gold & Silver Afternoon Update 10/28/2025 | The Bregar Minute
A strong rest of the day for silver, thanks to platinum & palladium’s sudden +2% surges to finish the 9amET hour (there was news as usual for these opaque markets, but it seemingly forced all those aggressive bears from Asia and Europe last night to cover). Gold followed the directional bias of these white metals but significantly lagged in performance (came nowhere close to taking out last night’s high, let alone yesterday’s lows), and I think this was very much because how the ever-rising stock market (drunk on US/China trade optimism) preventing US yields from reversing lower. Couple that with more heavy-handed gold futures selling after the COMEX close, and I think the precious metals face downside risks once again into tomorrow. There are clearly bearish forces out there now whose modus operandi are to hit the metals into the NY close, after the PBOC’s daily fix, and at the European open…it’s very obvious, they’ve done it now for four trading days in a row, so continue to tread carefully. Tomorrow’s NY session features two widely expected 25bp central bank rate cuts; the first from the Bank of Canada at 9:45amET and the second from the Federal Reserve at 2pmET. The precious metal bulls will want Powell to sound more concerned about the US labor market.
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