Gold & Silver Morning Update 10/16/2025
A wild last 12hrs of trading for the precious metals. Another very supportive CNY fixing got the ball rolling to the upside for gold & silver last night. A pullback for all things China (stocks, copper and yuan) into the Asian close then unleashed aggressive sell-stop washouts for the PGMs and silver into yesterday’s NY session lows. Risk-taking sentiment then suddenly shot up again during the European AM (for no particular reason), bringing the PGMs and silver back to breakeven on the day and gold up to new all-time-highs; and we’re now seeing a ridiculous 5% surge for palladium prices (following this morning’s very poor Oct Philly Fed Manufacturing survey), and a stubbornly bid stock market, drive gold & silver to yet new all-time highs. Never mind another bounce for US yields this morning (clearly not worried about the Philly numbers). This is starting to get a little silly.
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