Gold & Silver Morning Update 10/15/2025 | The Bregar Minute
A strong rest of the day and evening for the precious metals yesterday. I can’t point to a specific catalyst for the turnaround that began around 9:45amET, but stock and palladium prices rebounded viciously ahead of Powell’s speech; almost as if the marketplace bet that we would get the dovish comments from the Fed chairman that we got (more concern about the labor market and QT could end in the coming months). Trump’s late-day threat against China regarding soybeans introduced some bullish trepidation into the NY close, but this was quickly nullified by gold’s strong breakout above its COMEX closing range during the 6pmET hour, another very supportive CNY fix from the PBOC, and the explosive moves higher for the Nikkei & Hang Seng. European equity investors were far less interested in chasing the “everything rally” this morning, and I think that’s why the precious metals have backed off since the 4amET hour. The bears are now trying to sell gold & silver out of the COMEX opening ranges again, but it hasn’t been successful for them.
Up next is the S&P cash open, with the futures up a laughable +0.70% versus yesterday’s cash close. Seems nothing can keep the stock market down for long. We’ll then get some Fed-speak from the likes of Bostic, Miran, and Waller at mid-day; followed by the Fed’s latest Beige Book report at 2pmET (which could be more important than usual given the lack of official economic data).
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