Gold & Silver Morning Update 12/29/2025 | The Bregar Minute
Some absolutely wild post-Christmas trading activity for the precious metals. First, silver and platinum’s incredible +10% rallies on Friday, fueled by an odd rehashing of the China silver export restriction story from October and rumors that a bullion bank was blown out of its silver short position; and now scary -16% & -18% crashes off session highs for the white metals following two distinct slams overnight during the very illiquid 7pmET & 1amET hours, and following this morning’s breakdown below the COMEX opening ranges. There haven’t been any headline triggers or narratives behind the plunge, and there’s hasn’t been an abrupt negative turn in broader risk sentiment, and so this feels eerily familiar to how the bank-engineered slam from Oct 21 unfolded (Europe creates the panic, Western accounts try to buy-the-dip but then give up). As usual, safe-haven gold is getting unfairly taken out with the bathwater here, and the fact that it has now given up last Monday’s breakout above the October highs is a discouraging sign technically. Unless we miraculously regain this level by the NY close today, unfortunately I think we have just witnessed another short-term market top.
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