Gold & Silver Morning Update 12/10/2025 | The Bregar Minute
More hawkish Fed anxiety indeed for the global bond, equity, and gold markets overnight; but some calm is now trying to take hold as US yields slowly slip back since the 6amET hour. I think an un-hawkish hold from the Bank of Canada up next at 9:45amET could help to further calm bond markets down because the speculative fever about Canadian rate hikes for 2026 is not justified in my opinion. The current unravelling of yesterday’s explosive PGM rally is a potential fly in the ointment though, as we’ve seen steep white metal selloffs unfairly bash gold in the past. Silver is amazingly still trading green for the day amidst the correlative negatives, but this morning’s slip below its COMEX opening range hints that this could soon change. Hard to say what this afternoon’s FOMC meeting will bring, but I think it’s fair to say that an un-hawkish or even neutral-sounding rate cut would be celebrated by all markets at this point given how quickly hawkish Fed fears spread since last week’s good Jobless Claims numbers.
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