Gold & Silver Morning Update 11/24/2025 | The Bregar Minute
A solid start to the week for the precious metals, despite last night’s early gold selloff following Secretary Rubio’s “good progress” comment on Ukraine-Russia peace talks. Bond yield declines in Europe, increasingly more bullish gold outlooks from Deutsche Bank and UBS, and another December rate cut reiteration from the Fed’s Waller all seemed to help overnight. The leveraged funds initially looked like they wanted to keep the rally going at the COMEX open this morning, but this has now fizzled out with the S&P / Bitcoin pullback since approx 8:30amET. Seeing as there’s no economic data on deck today, unfortunately I think this stubborn equity / crypto market correlation (which wreaked havoc on the precious metals last week) could persist once again during NY trading hours. Month-end demand for USD (if Barclays’ latest prediction is correct), and dealer hedging of short call positions ahead of today’s December option expiry at the COMEX closes, are potential downside risks / forces to watch out for today.
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.