Gold & Silver Morning Update 10/9/2025 | The Bregar Minute
Indeed some cooling off for the precious metals in early Asian trade last night following yesterday’s technical soft NY closes, but everything began turning around when USDCNH started to fall precipitously during the 8pmET hour, almost as if the marketplace knew that the PBOC was going to come out with a much weaker-than-expected daily USDCNY fix to support the yuan about an hour later. Copper then exploded higher at the China open, cementing silver’s double-bottom; and we finally began the overnight gold & silver rally back to breakeven on the day when palladium busted back above its NYMEX closing range with the rebound in the S&P futures.
New York trade so far has been chaotic and lacking liquidity to say the least, with the out-of-control and illiquid palladium market galloping another +2% out of its NYMEX opening range…encouraging the silver algos to blindly do the same thing. Dissemination of exploding silver lease/repo rates (130-150%/yr) in the spot market also seemed to play a role. However, it has all come to a crashing halt with aggressive gold & silver algo selling at the S&P cash open, and this snowballed when stocks lost their opening range about 10mins later. I’ll repeat again how unhealthy gold & silver’s tight correlation with stocks and an illiquid automotive metal market, and its decoupling from the dollar and rates, has become. This is not “it” where faith in the fiat currency system collapses as some stackers proclaimed yesterday, but a bastardization of markets by those who run these algorithms. So go the spooz, so go the precious metals for the rest of the day.
This material is provided strictly for informational purposes and should not be construed as investment, legal, tax, or financial advice. Precious metals and other investments involve risk and may not be suitable for all investors. Past performance is not a guarantee of future results, and market conditions can change without notice. The information presented is believed to be reliable; however, no representation or warranty, express or implied, is made as to its accuracy, completeness, or timeliness. No liability will be accepted for any loss or damages arising from the use of, or reliance on, this material. This publication does not constitute an offer, solicitation, or recommendation to buy or sell any product, security, or investment strategy. Readers should consult with independent financial, legal, tax, and other professional advisors before making investment decisions. All product names, trademarks, and company names mentioned are the property of their respective owners. Reference to them does not imply endorsement.