Gold & Silver Morning Update 11/6/2025 | The Bregar Minute
A strong overnight session as expected for the precious metals, thanks to yesterday’s “bullish piercing line” NY closing patterns on the daily charts, another round of Chinese buying last night, and continued USD selling following yesterday’s rally exhaustion signals. The big extensions higher for gold & silver during late Asian / early European trade felt palladium driven once again, but these gains have now largely vanished as the automotive metal collapses 3% off session highs and as bearish algos attack gold at 7:03amET and 9:00amET. I’m a little surprised that the 4amET release of a shockingly bad October US Challenger Job Cuts number (+175.30 YoY vs -25.8% YoY for September) hasn’t done more to help gold, because US yields have been a clear downward path since then. Not even Goolsbee’s pathetic attempt to shill for Powell’s December rate-cut pushback worked to stop the bond market buying in early NY trade this morning. All to say I think this 9amET hourly selloff for the precious metals is a bit overdone now; it looks like we stopped out everybody who went long on the breakout in late Asian / early European trade, and we now have room again to work higher with this fundamentally valid bid in bonds.
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