Gold & Silver Afternoon Update 11/6/2025 | The Bregar Minute
A very disappointing rest of the day for the precious metal bulls because Wall Street reprogrammed their gold algos to follow the stock market…which fell precipitously from the S&P cash open into 12:30pmET, bounced half way back by 2:30pmET, and finally fell back to session lows by the cash close. This was especially obnoxious given the fact that US yields and the broader USD continued their overnight declines following the very poor Challenger job cut data. While today’s daily doji candlestick for gold by definition indicates indecision into tomorrow, I’d say the market’s technically poor NY closing print today (below the COMEX closing range + giving up its gains above the 55hr moving average) suggests the bears are back in control. If I were a Chinese speculator waking up to my long position from last night getting stopped out, I wouldn’t feel like buying again tonight. It’s a real shame how the trading algorithms continue to bastardize the safe-haven gold market…on Tuesday we were following speculative Bitcoin, yesterday it was opaque palladium, and now we’re beholden to the overvalued stock market again. This is troubling because who knows what these computers will decide to follow tomorrow.
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