{"id":62348,"date":"2025-09-03T09:41:58","date_gmt":"2025-09-03T09:41:58","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=62348"},"modified":"2025-09-04T01:43:10","modified_gmt":"2025-09-04T01:43:10","slug":"gold-breaks-to-new-high","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/","title":{"rendered":"Gold breaks to a new high"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>Gold broke through resistance at $3,500 per ounce, reaching a new high of $3,546.<\/li>\n<li>Silver is testing resistance at $41 per ounce.<\/li>\n<li>Sovereign debt is losing favor, with the UK 30-year gilt yield above 5.7% for the first time in 27 years.<\/li>\n<\/ul>\n<hr \/>\n<p>After its recent breakout, the Dow Jones Industrial Average has retraced to test support at 45K. Respect is likely, but a breach would raise questions about the validity of the Dow&#8217;s recent bull market signal.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-dow.png?resize=525%2C404&#038;ssl=1\" alt=\"Dow Jones Industrial Average\" width=\"525\" height=\"404\" \/><\/p>\n<p>September is also the worst month of the year for stock performance, most likely due to investment managers cleaning up their portfolios before the financial year-end.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-sept.jpg?resize=525%2C328&#038;ssl=1\" alt=\"Stock Market Performance by Calendar Month\" width=\"525\" height=\"328\" \/><\/p>\n<p>While September has the worst average return, we are also wary of October, which has delivered some of the most severe crashes in memory, including October 1929 and 1987.<\/p>\n<h2>Financial Markets<\/h2>\n<p>Bitcoin is testing support at 110K, warning that investors&#8217; risk appetite is shrinking. A follow-through below the recent low would be a strong bear signal for stocks.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-btc.png?resize=525%2C372&#038;ssl=1\" alt=\"Bitcoin (BTC)\" width=\"525\" height=\"372\" \/><\/p>\n<h2>Treasury Markets<\/h2>\n<p>10-year Treasury yields are consolidating in a narrow band above support at 4.2%, anticipating a Fed rate cut in September, causing a decline in long-term yields.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-tnx.png?resize=525%2C404&#038;ssl=1\" alt=\"10-Year Treasury Yield\" width=\"525\" height=\"404\" \/><\/p>\n<p>However, long-term yields are in a secular uptrend, with the US 30-year testing resistance at 5.0%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-us-30y.png?resize=525%2C338&#038;ssl=1\" alt=\"30-Year US Treasury Yield\" width=\"525\" height=\"338\" \/><\/p>\n<p>Global investors are increasingly shunning long-term sovereign debt. The UK 30-year Gilt rose above 5.70% for the first time since April 1998.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-uk-30y.png?resize=525%2C338&#038;ssl=1\" alt=\"30-Year UK Gilt Yield\" width=\"525\" height=\"338\" \/><\/p>\n<p>Japan&#8217;s 30-year JGB yields are climbing steeply due to the Bank of Japan tightening monetary policy.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-jp-30y.png?resize=525%2C335&#038;ssl=1\" alt=\"30-Year JGB Yield\" width=\"525\" height=\"335\" \/><\/p>\n<p>The 30-year German Bund is on a similar path.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-de-30y.png?resize=525%2C338&#038;ssl=1\" alt=\"30-Year German Bund Yield\" width=\"525\" height=\"338\" \/><\/p>\n<p>A secular bear market in bonds will also likely be bearish for stocks.<\/p>\n<h2>Dollar &amp; Gold<\/h2>\n<p>The US Dollar Index continues in a bearish narrow consolidation above support at 97. Trend Index peaks below zero warn of long-term selling pressure, and a breach of support at 97 would strengthen our long-term target of 90.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-dxy.png?resize=525%2C404&#038;ssl=1\" alt=\"Dollar Index\" width=\"525\" height=\"404\" \/><\/p>\n<p>Gold broke through resistance at $3,500 per ounce, reaching a new high of $3,546. A higher Trend Index trough signals buying pressure. Expect retracement to test the band of support between $3,400 and $3,500, but respect will likely confirm another advance, further strengthening our target of $4,000 by the end of the year.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-gold.png?resize=525%2C404&#038;ssl=1\" alt=\"Spot Gold\" width=\"525\" height=\"404\" \/><\/p>\n<p>Silver made a similar breakout above $40 per ounce. Again, we expect retracement to test the new band of support between $39 and $40, but respect will likely confirm another advance. Our year-end target is $44.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-silver.png?resize=525%2C404&#038;ssl=1\" alt=\"Spot Silver\" width=\"525\" height=\"404\" \/><\/p>\n<h2>ISM Manufacturing<\/h2>\n<p>The manufacturing sector continues to signal a contraction, but the rate of decline slowed, with the ISM Manufacturing PMI rising to 48.7%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-ism-mnfg-pmi.png?resize=525%2C303&#038;ssl=1\" alt=\"ISM Manufacturing PMI\" width=\"525\" height=\"303\" \/><\/p>\n<p>The outlook improved, with forward orders rising to 51.4%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-ism-mnfg-neworders.png?resize=525%2C263&#038;ssl=1\" alt=\"ISM Manufacturing New Orders\" width=\"525\" height=\"263\" \/><\/p>\n<p>However, employment prospects remain low, with the employment sub-index at 43.8%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-ism-mnfg-jobs.png?resize=525%2C261&#038;ssl=1\" alt=\"ISM Manufacturing Employment\" width=\"525\" height=\"261\" \/><\/p>\n<p>Input prices are still rising, but the prices sub-index surprisingly improved to 63.7%. A similar improvement in Services next week would indicate that inflationary pressures are easing, increasing the likelihood of a Fed rate cut.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-09-03-ism-mnfg-prices.png?resize=525%2C267&#038;ssl=1\" alt=\"ISM Manufacturing Prices\" width=\"525\" height=\"267\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>Long-term government bonds are in a secular bear market, which will likely be bearish for stocks.<\/p>\n<p>Gold reached a new high above resistance at $3,500 per ounce, reflecting investor caution towards sovereign debt. A retracement that respects the latest support level would confirm our year-end target of $4,000.<\/p>\n<h4>Acknowledgments<\/h4>\n<ul>\n<li>CoinDesk: <a href=\"https:\/\/www.coindesk.com\/price\/bitcoin\">Bitcoin<\/a><\/li>\n<li>Federal Reserve of St Louis: <a href=\" https:\/\/fred.stlouisfed.org\/\">FRED Data<\/a><\/li>\n<li>CNBC: <a href=\"https:\/\/www.cnbc.com\/bonds\/\">Bond Yields<\/a><\/li>\n<li>Institute for Supply Management: <a href=\"https:\/\/www.ismworld.org\/supply-management-news-and-reports\/reports\/ism-report-on-business\/\">ISM Report on Business<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key Points Gold broke through resistance at $3,500 per ounce, reaching a new high of $3,546. Silver is testing resistance at $41 per ounce. Sovereign debt is losing favor, with the UK 30-year gilt yield above 5.7% for the first time in 27 years. After its recent breakout, the Dow Jones Industrial Average has retraced &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold breaks to a new high&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5342,9,17,33,34,35],"tags":[69,5056,1073,1113,6454,5882,5561,6975,6974,3204,3206],"class_list":["post-62348","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency","category-gold-precious-metals","category-japan-korea","category-uk-europe-countries-regions","category-us-canada-countries-regions","category-us-dollar-index","tag-10-year-treasury-yield","tag-bitcoin-btc","tag-dollar-index","tag-dow-jones-industrial-average","tag-ism-manufacturing-prices","tag-ism-manufacturing-new-orders","tag-ism-manufacturing-pmi","tag-october","tag-september","tag-spot-gold","tag-spot-silver"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold breaks to a new high - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold breaks to a new high - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Key Points Gold broke through resistance at $3,500 per ounce, reaching a new high of $3,546. Silver is testing resistance at $41 per ounce. Sovereign debt is losing favor, with the UK 30-year gilt yield above 5.7% for the first time in 27 years. 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After its recent breakout, the Dow Jones Industrial Average has retraced &hellip; Continue reading \"Gold breaks to a new high\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2025-09-03T09:41:58+00:00","article_modified_time":"2025-09-04T01:43:10+00:00","og_image":[{"url":"https:\/\/www.incrediblecharts.com\/images\/2025\/2025-09-03-dow.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"Gold breaks to a new high","datePublished":"2025-09-03T09:41:58+00:00","dateModified":"2025-09-04T01:43:10+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/"},"wordCount":523,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2025\/2025-09-03-dow.png","keywords":["10-Year Treasury Yield","Bitcoin (BTC)","Dollar Index","Dow Jones Industrial Average","ISM Manufacturing - Prices","ISM Manufacturing New Orders","ISM Manufacturing PMI","October","September","Spot Gold","Spot Silver"],"articleSection":["Cryptocurrency","Gold &amp; Precious Metals","Japan &amp; Korea","UK &amp; Europe","US &amp; Canada","US Dollar Index"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/","name":"Gold breaks to a new high - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2025\/2025-09-03-dow.png","datePublished":"2025-09-03T09:41:58+00:00","dateModified":"2025-09-04T01:43:10+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2025\/2025-09-03-dow.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2025\/2025-09-03-dow.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2025\/09\/03\/gold-breaks-to-new-high\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Gold breaks to a new high"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. 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","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454","name":"Colin Twiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","caption":"Colin Twiggs"},"description":"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-gdC","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":61477,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/04\/04\/bear-market-bites\/","url_meta":{"origin":62348,"position":0},"title":"The bear market bites","author":"Colin Twiggs","date":"April 4, 2025","format":false,"excerpt":"Summary Stocks plunged in reaction to Donald Trump's new \"reciprocal\" tariffs. The S&P 500 and Dow Jones Industrial Average broke support levels, confirming the bear market. Declining 10-year Treasury yields warn of a recession. The ISM services PMI warns of slowing growth and rising unemployment. Stocks The Dow Jones Industrial\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-03-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-03-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-03-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":62088,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/07\/04\/stocks-surge-despite-the-big-beautiful-debt-bomb\/","url_meta":{"origin":62348,"position":1},"title":"Stocks surge despite Trump&#8217;s Big Beautiful Debt Bomb","author":"Colin Twiggs","date":"July 4, 2025","format":false,"excerpt":"Summary The US economy added 147K jobs in June, causing a surge in the S&P 500 The solid jobs report also caused a jump in long-term Treasury yields as prospects fade for a Fed rate cut The dollar found support, with gold weakening as a result Congress passed President Trump's\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Employment Growth","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-07-03-jobs.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-07-03-jobs.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-07-03-jobs.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63326,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/12\/02\/tight-liquidity-and-rising-bond-yields-weigh-on-stocks\/","url_meta":{"origin":62348,"position":2},"title":"Tight liquidity and rising bond yields weigh on stocks","author":"Colin Twiggs","date":"December 2, 2025","format":false,"excerpt":"Key Points Selling pressure on the S&P 500 has increased as liquidity tightens. Ten-year Treasury yields are also rising amid growing pressure on Japanese bond markets. The ISM Manufacturing PMI declined to 48.2% as the sector continues its long-term contraction. Gold and silver are testing support, but remain in a\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Bitcoin (BTC)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-01-btc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-01-btc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-01-btc.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":62511,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/10\/02\/sp-500-makes-new-high-as-the-economy-slows\/","url_meta":{"origin":62348,"position":3},"title":"S&#038;P 500 makes new high as the economy slows","author":"Colin Twiggs","date":"October 2, 2025","format":false,"excerpt":"Key Points The S&P 500 is testing resistance at 6700, while the government shutdown delays monthly payroll data. ADP private payroll data reports 32,000 jobs lost in September. The ISM Manufacturing survey shows the sector is shedding jobs. With the regular monthly BLS labor report delayed due to the government\u2026","rel":"","context":"In &quot;Deficit Spending &amp; Employment&quot;","block_context":{"text":"Deficit Spending &amp; Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"ADP Private Payrolls","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-01-adp-privatepayroll.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-01-adp-privatepayroll.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-01-adp-privatepayroll.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":57972,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/10\/02\/houthis-and-the-blow-back\/","url_meta":{"origin":62348,"position":4},"title":"Houthis and the blow-back","author":"Colin Twiggs","date":"October 2, 2024","format":false,"excerpt":"Stocks retraced to test support on concerns over an escalation of hostilities between Israel and Iran and its potential threat to the flow of crude oil from the Middle East. Stocks The S&P 500 retraced to test support at 5670\/5700, but rising Trend Index troughs signal buying pressure. Respect of\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-01-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-01-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-01-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":59666,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/12\/04\/gold-and-silver-find-support\/","url_meta":{"origin":62348,"position":5},"title":"Gold and silver find support","author":"Colin Twiggs","date":"December 4, 2024","format":false,"excerpt":"The ISM manufacturing PMI remains weak but the rest of the US economy remains robust. Stocks' narrow advance indicates a lack of conviction. However, gold and silver found support and are likely to benefit from economic and geopolitical uncertainty. Stocks The S&P 500 is edging cautiously upwards. We expect another\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-03-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-03-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-03-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/62348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=62348"}],"version-history":[{"count":6,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/62348\/revisions"}],"predecessor-version":[{"id":62356,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/62348\/revisions\/62356"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=62348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=62348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=62348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}