Gold & Silver Morning Update 12/11/2025 | The Bregar Minute
Consolidation indeed of the FOMC-move for the precious metals overnight following another pushback on Chinese yuan strength from the PBOC. However, the selloff got obnoxious in gold (erasing 3/4 of the post-Fed rally) when the S&P futures puked 1% after the China open (allegedly because of Oracle’s -11% plunge post earnings), while silver merely gave back its early Asia gains. This was such a stupid reason to dump a safe-haven asset, and for gold to underperform silver amid a risk-off environment was even more asinine. European traders seemed to get the message earlier this morning by buying gold again, but they failed miserably to get prices back above Tuesday’s high despite another big breakdown for the broader USD. The latest Initial Jobless Claims report came out even worse than expected (236k vs 220k), triggering a second leg lower for US yields so far today and another new session low for the dollar, yet gold is still struggling to get back to breakeven on the day. Gold should have broken above its Dec 1 highs by now if not for the moronic algo correlation with the stock market. The longer the bulls fail to correct last night’s non-sense, the more vulnerable I think gold becomes to a rational upward consolidation for the dollar and yields.
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