Gold & Silver Afternoon Update 9/29/2025 | The Bregar Minute
A dull rest of the day for the precious metals. Gold & silver followed platinum’s rebound into the London close, and then basically went to sleep. Repeated failures to get above this morning’s 7amET highs for gold introduced a bit of precious metal selling at the COMEX close, but this was quickly reversed by skepticism over Trump’s new plan to bring peace to Gaza. It may be tempting to say that gold & silver look overdone here because of how the dollar recovered its losses versus the EUR & CNH in NY trade today, but US yields closed near session lows and today’s NY closing prints for the metals were strong (near session highs and above the COMEX closing ranges). All this suggests that that path of least resistance remains higher going into tomorrow.
The calendar for the week now starts to get interesting with tonight’s official Chinese PMIs for September, along with the latest Reserve Bank of Australia policy decision. After that tomorrow morning we’ll get the preliminary September inflation data out of France, Italy and German; the July Case-Shiller Home Price Index, the Sep Chicago PMI, the Aug JOLTs Job Openings number, and the Sep CB Consumer Confidence report.
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