Gold & Silver Morning Update 9/29/2025 | The Bregar Minute
A surprisingly strong start to the week for the precious metals after Friday’s late selloff below the COMEX closing ranges. Broad USD selling at the Globex open last night, (allegedly on US government shutdown fears) got the ball rolling to the upside immediately for gold & silver; Australian & US bonds then opened strongly and helped the metals further. The PBOC’s very supportive CNY fixing was finally the icing on the cake in my opinion that helped propel the precious metals to new swing highs during the European AM. Early NY trade saw what felt like some profit taking in gold & silver as US yields found a floor, but the downside momentum out of the COMEX open this morning has now been squashed by platinum’s failed breakdown below Friday’s high / rebound to begin the 9amET hour. This now tilts intra-day momentum more neutral / positive. The S&P cash open was stable, in turn helping to keep the dollar offered / metals bid. The August US Pending Home Sales data is up next at 10amET, followed by speeches from the Fed’s Musalem and Williams this afternoon.
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