Gold & Silver Afternoon Update 12/23/2025 | The Bregar Minute
An impressive rebound for gold & silver to round out this Tuesday, thanks in large part to a calming down in bond markets / strong stock market rally following the much weaker-than-expected Present Situation reading in the December US Consumer Confidence report. Silver and PGM markets naturally outperformed amid the risk-on environment, with platinum astonishingly soaring another +7% (that’s now a +40% return in just 10 days, since the pre-Fed meeting lows on December 10). It may be tempting to say that silver and platinum have rallied too far to fast here, but I think the odds of a negative headline shock going into Christmas Eve (that would disrupt the broader risk-taking mood) is low, and so I’d say the bulls still have hourly momentum on their side. Gold, which continues to lag the white metal rally to the upside, still technically looks good here too (about to finish the day well above the COMEX closing range, putting upward pressure on the COMEX opening range), and so I wouldn’t be surprised if we see an attempt to break above last night’s high at some point overnight. Tomorrow’s holiday-shortened session (COMEX closing early at 1:45pmET) features the US Initial Jobless Claims number for the week ending Dec 20.
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