25 September 2025 – 08:32 Central Euro Time

Copper, for which yesterday’s +4.0% net gain ranked fourth-best year-to-date, is higher again this morning and is the only BEGOS Market presently outside of its Neutral Zone; overall session volatility is again light. The pricing for the Spoo may be quite contained from now to tomorrow’s “Fed-favoured” PCE data for August; nonetheless, the S&P 500 itself remains “textbook overbought” and the futs-adj’d P/E 48.6x. Both Precious Metals have cooled a bit from their highs of Tuesday; still, Gold notably in real-time is +244 points above its smooth valuation line (see Market Values); and by its Market Profile, Gold shows its most dominant volume support at 3719. Incoming metrics for the Econ Baro include August’s Durable Orders and Existing Home Sales, along with the final read for Q2 GDP.