Gold and Silver Pull Back — Smart Money Buys When Others Wait 
Daily News Nuggets | Today’s top stories for gold and silver investors
September 24th, 2025
Gold Pauses After Record Highs
Gold eased to $3,762–$3,767/oz this morning, pulling back from Tuesday’s all-time high of $3,790. Spot prices softened ahead of this week’s economic data, with investors parsing whether Powell’s hawkish tone leaves any room for September rate cuts.
But don’t read too much into the pause — central banks are still buying aggressively, and geopolitical tensions haven’t gone anywhere. For now, this looks more like a pit stop than a U-turn in gold’s record-breaking rally.
Treasury Yields Edge Higher
The 10-year Treasury yield edged up Tuesday as bond traders positioned for fresh economic releases. The move reflects ongoing inflation worries and uncertainty about the Fed’s next move. While markets are still betting on a September cut — giving it about 65% odds — Powell’s recent comments have muddied the waters.
Here’s the twist: Rising yields traditionally weigh on gold, but with government debt spiraling and solvency concerns mounting, those higher rates might actually push more investors toward physical metals.
Powell Draws His Line
The Fed Chair sent a clear message Monday: the central bank won’t risk letting inflation roar back to life, even if it means accepting slower growth. Powell stressed that cutting rates too soon could undo years of inflation-fighting credibility.
Translation? Those September rate cuts everyone’s banking on might not be the slam dunk markets expect. For precious metals investors, this creates an interesting tension — the longer the Fed waits, the more pressure builds in credit markets, historically a recipe that sends capital fleeing to gold.
Cracks in the Fed’s United Front
While Powell projects confidence publicly, behind closed doors the Fed is showing signs of division. Some officials worry the bank has already tightened too much and risks triggering a recession. Others want to keep squeezing until inflation is definitively dead.
This isn’t just Fed drama — these internal battles often leak into policy decisions and market volatility. History shows that when central banks look confused or divided, gold typically benefits as investors seek clarity elsewhere.
China’s Gold Power Play
Beijing is making moves to reshape the global gold market. Chinese regulators are opening Shanghai’s gold exchange to more international players and pushing yuan-denominated contracts as alternatives to London and New York pricing.
It’s part of China’s broader strategy to reduce dollar dependence while positioning itself at the center of emerging market gold demand. If successful, this shift could move price discovery eastward and create a parallel gold market that operates outside traditional Western channels — potentially adding a new source of structural demand.
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