Gold & Silver Morning Update 10/24/2025 | The Bregar Minute
A weak overnight session for the precious metals as feared following yesterday’s technically poor NY closing prints. China’s lack of interest in buying for two nights in a row is now clearly a problem, and it looks like those European sellers (that hit the metals hard Tuesday & Wednesday) piled on to the negativity earlier this morning when US resumed higher yet again. While the softer-than-expected September US CPI report seemingly tripped those players out a half hour ago, the fact that gold & silver have now staunchly rejected the 55hr moving averages they re-lost overnight is a troubling development for the bulls. I’d say it’s mission critical for them to get prices back above those levels to finish the day, otherwise the bears will have the technical ammo to spark the next serious leg lower. The upcoming (fresher) flash US October PMIs at 9:45amET now feel like even more important numbers in this context…the bulls will want these to come in weaker than the 52.0 & 53.5 consensus estimates for Manufacturing & Services respectively.
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