Day by day Information Nuggets | As we speak’s prime tales for gold and silver traders October 29th, 2025
Gold Claws Again Above $4,000 After Commerce Speak Selloff
Gold rebounded above $4,000 an oz Tuesday after plunging as a lot as 3.2% on Monday as US-China commerce progress lowered demand for haven belongings. By Wednesday, gold traded at $4,016 — nonetheless nicely under its report excessive close to $4,400 earlier this month.
Gold has surged greater than 54% this 12 months, fueled by sturdy funding demand amid geopolitical tensions, greenback weak spot, and Fed fee minimize expectations. That places 2025 on observe to be gold’s greatest 12 months since 1979 — when the metallic surged 125% amid hovering inflation and the Iranian hostage disaster.
Annual Gold Return in Nominal Phrases
Supply: Bloomberg, World Gold Council | Knowledge as of 10/9/25. Primarily based on the LBMA Gold Worth PM.
The chart above reveals gold doesn’t transfer in straight traces: sharp rallies are sometimes adopted by multi-year corrections. However greater Treasury yields following the commerce announcement additionally weighed on the non-interest-bearing metallic, reminding traders that even historic rallies face headwinds when bond returns enhance.
Silver Bounces Again 2.5% After Commerce Speak Whipsaw
Silver mirrored gold’s wild experience this week, rebounding 2.5% Tuesday after getting hammered 3.8% on Monday. The selloff got here as optimism over US-China commerce talks sapped demand for haven belongings. Senior officers from each nations introduced a framework settlement on tariffs over the weekend in Malaysia, with Treasury Secretary Scott Bessent saying Trump’s risk of 100% tariffs on Chinese language items is “successfully off the desk.”
However silver discovered assist heading into Wednesday’s Fed assembly. With a fee minimize almost assured, the metallic is benefiting from the identical forces lifting gold — decrease charges cut back the chance price of holding non-yielding belongings. Silver’s industrial demand additionally makes it extra delicate to financial optimism: if commerce tensions genuinely ease and manufacturing picks up, the metallic might see demand from each traders and trade.
So, what’s driving the valuable metals rebound? All eyes are on the Federal Reserve.
Fed Set to Reduce Charges Once more — Regardless of Flying Blind on Jobs Knowledge
The Federal Reserve is broadly anticipated to chop its benchmark fee by 1 / 4 level Wednesday, marking the second minimize in six weeks. Markets are pricing in a 99% chance, which might decrease charges to three.75%–4.00%. The twist? The federal government shutdown that started October 1 has left the Fed with out official jobs knowledge for September or October.
Policymakers have grown extra involved about stopping unemployment spikes, whilst inflation stays elevated. Main companies together with Amazon and Goal have introduced hundreds of job cuts. Decrease charges usually weaken the greenback and cut back the chance price of holding gold—each supportive for valuable metals. With markets pricing in near-certainty of one other December minimize, the easing cycle could lengthen nicely into 2026.
These job cuts the Fed is fearful about? They’re hitting one sector notably onerous.
America’s White-Collar Staff Face a Silent Recession
One in 4 American staff who misplaced their jobs in 2024 labored in skilled and enterprise providers — what are thought-about white-collar jobs. Unemployment within the skilled and enterprise providers sector has climbed from 3.1% to 4.0%, whereas blue-collar industries like manufacturing and healthcare proceed hiring steadily. Amazon introduced plans to chop 14,000 company positions, whereas Goal mentioned it’s chopping about 1,000 company jobs.
The primary wrongdoer seems to be the development of generative AI, with 70% of duties in white-collar roles doubtlessly “remodeled” or “changed” by synthetic intelligence. In keeping with LinkedIn’s January 2025 report, hiring for roles with salaries over $125,000 dropped 32% in comparison with the earlier 12 months. Job searches now common six to 9 months for senior professionals, and 40% of white-collar candidates didn’t land a single interview in 2024.
But regardless of these financial warning indicators, hypothesis within the markets is reaching fever pitch.
Nvidia Races Towards $5 Trillion as AI Bubble Debate Intensifies
Nvidia is on observe to grow to be the primary $5 trillion firm, with shares rising 3.5% Wednesday morning. CEO Jensen Huang dismissed bubble issues on the firm’s Washington convention, saying Nvidia’s newest chips are on observe to generate half a trillion {dollars} in income.
However skeptics aren’t satisfied. The IMF and Financial institution of England have warned that markets might be in hassle if investor urge for food for AI turns bitter. Critics level to “round income offers” and debt-fueled spending, with over 1,300 AI startups now valued above $100 million — drawing parallels to the dotcom bubble. If the AI commerce unwinds, it might set off a broader selloff and renewed flight-to-safety demand for gold and silver.
Large tech valuations constructed on speculative future earnings — fairly than present earnings — have traditionally ended poorly. For valuable metals traders, watching Nvidia’s trajectory provides a real-time gauge of threat urge for food and whether or not markets are overheating.
