Gold & Silver Morning Update 10/28/2025 | The Bregar Minute
Another crummy overnight session as feared for the precious metal bulls after yesterday’s very poor NY closing print for gold. Sure enough, Chinese demand was absent yet again last night, we saw gold begin its next selloff right when USDCNH oddly reversed higher following another supportive CNY fix, and European accounts slammed all the precious metals once again at the London open…this is almost starting to feel coordinated and manipulative, with Western accounts taking the brunt of the pain as their buy-the-dip attempts during NY hours get stopped out. A two-hour metal bounce into the NY open (seemingly helped by broad USD sales) felt like it could have been the start to a bigger recovery today, but strong gold algo selling out of this morning’s COMEX opening range, and a spike higher for the dollar & bond yields, has now squashed that. This is increasingly bearish price action for the precious metals and I suspect only a pullback for the exuberant stock market (a dialing back of the US/China trade euphoria) can slow it down at this point.
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