Silver Rises Over 120% YTD 
Daily News Nuggets | Today’s top stories for gold and silver investors
November 21st, 2025
Market Snapshot (as of 10:30 AM EST):
(24-hour change)
- Gold: $4,070/oz (down 0.2%)
- Silver: $49.80/oz (down 1.8%)
Fed’s Williams Opens Door to December Rate Cut
New York Fed President John Williams gave gold bulls a shot in the arm Friday, saying the central bank still has “room for a further adjustment in the near term” on interest rates. Speaking in Chile, Williams argued that downside risks to employment have increased while inflation pressures have eased—a notable shift in tone from other Fed officials who’ve taken a harder line against cutting rates too quickly.
His comments immediately moved markets. Treasury yields dropped sharply, and traders now see a 64% chance of a quarter-point cut at the Fed’s December meeting—nearly flipping overnight from Thursday’s pricing. Williams carries serious weight on the rate-setting committee, holding a permanent voting position alongside Chair Jerome Powell. But Williams’ optimism faces pushback from fresh economic data that’s complicating the Fed’s calculus…
Gold Stalls as Strong Jobs Data Dims Rate Cut Hopes
Gold slipped Friday morning, trading around $4,030-$4,050 per ounce, after a stronger-than-expected U.S. jobs report dampened expectations for a December Fed rate cut. September nonfarm payrolls jumped by 119,000 — more than double forecasts — while the unemployment rate edged up to 4.4%, the highest since late 2021. The surprise has traders rethinking their bets on near-term rate cuts, which had fueled gold’s recent rally above $4,100.
The strengthening dollar didn’t help either, making gold pricier for overseas buyers and cutting into demand across major Asian markets. Silver joined the retreat, falling 1.8%, while platinum and palladium also declined. With the Fed’s next meeting just weeks away, gold investors are now weighing whether the labor market’s resilience will keep rates elevated longer — a headwind for bullion, which thrives when borrowing costs drop.
That uncertainty is reverberating across key gold markets worldwide…
Asian Gold Buyers Pull Back Amid Price Volatility
Gold demand across major Asian hubs weakened this week as wild price swings kept buyers on the sidelines. In India, dealers were forced to offer discounts of up to $21 per ounce — a sharp reversal from last week’s five-month highs — as domestic prices around ₹122,500 per 10 grams cooled wedding-season enthusiasm. Jewelers are holding off on inventory buildup, waiting for clearer price direction before committing to bulk purchases.
China, the world’s top gold consumer, showed similar hesitation. Physical gold there traded at par or even at a $5 discount to spot prices, signaling softer demand despite the country’s traditionally strong appetite for the metal. Swiss customs data underscored the trend: gold exports to China fell 11% in October as elevated prices deterred buyers. The volatility has created a wait-and-see mentality among long-term investors hoping for a bigger correction before jumping back in.
Job Openings Down 32% Since Debut of ChatGPT
U.S. job postings have fallen 32% since ChatGPT launched in November 2022, according to Federal Reserve data, raising fresh questions about AI’s impact on the labor market. Young workers are bearing the brunt: Stanford researchers found that job openings for early-career workers aged 22-25 have dropped 13% in AI-exposed fields like software development and customer service.
But the story may be more complicated than it appears. Some economists argue the real culprit isn’t AI — it’s the Fed’s aggressive interest rate hikes, which began in March 2022, the same month job openings peaked. Higher rates have slammed sectors like construction (down nearly 40% year-over-year) and manufacturing, which rely heavily on capital investment. Meanwhile, one bright spot has emerged: healthcare. Home health aides, earning a median $35,000 annually, now represent one of the few entry-level roles still growing—a stark reminder that while technology reshapes white-collar work, demand for human-centered care remains strong.
The economic uncertainty buffeting jobs and rates is hitting risk assets especially hard.
Bitcoin Heads for Worst Month Since 2022 Crypto Collapse
Bitcoin is on track for its worst monthly performance since the 2022 crypto meltdown, sliding as much as 6.4% Friday to around $81,600. The largest cryptocurrency has now shed roughly 25% in November — its steepest single-month decline since June 2022, when the collapse of TerraUSD sparked a cascade of failures that brought down FTX. The total crypto market value dropped below $3 trillion for the first time since April.
The selling has been brutal: $2 billion in leveraged positions were liquidated in just 24 hours, and U.S. Bitcoin ETFs saw $903 million in outflows Thursday — their second-largest single-day redemption since launching. A crypto fear index now shows “extreme fear” among traders, matching levels from the 2022 crisis. What’s puzzling is the timing. Despite a pro-crypto White House under Trump and surging institutional adoption earlier this year, Bitcoin has plummeted over 30% from its October record. The weakness suggests investors are prioritizing risk-off positioning amid broader market uncertainty — rate cut doubts, stretched stock valuations, and questions about whether the crypto rally got ahead of itself.
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