Gold Drops 2.3% While Natural Gas Surges 9.6% and Yields Flash Danger ~ Monday Market Moves

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Recording Date 9-25-2026. The S&P 500 gained 1.2% and broke out of a bull flag, while the DXY rose 0.8% before rejecting a key trend line. Treasury yields remain the bigger macro warning. The 10-year yield is back near levels last seen in 2007, with the 20-year and 30-year also near multi-decade highs. That creates competition for commodities because investors can earn attractive yields in bonds. Gold fell 2.3% and is testing support near $4,300 and the 61.8% Fibonacci retracement around $4,265. GDX dropped 2.7%, but I still see a potential bull flag near its rising 200-day moving average.

Silver fell 3.5% but continues to hold its 50-day moving average, while uranium slipped 0.5% and is beginning to resemble a bull pennant. I still like the uranium setup and am watching URNM and SRUUF closely. Oil weakened, with WTI down 3.2% and XLE down 3.5%, while natural gas exploded 9.6% and pushed through its 200-day moving average. Coal remains interesting after the COAL ETF pulled back to my yellow buy zone. Platinum looks vulnerable inside a tightening triangle, palladium hit one of my limit orders, and nickel is showing positive RSI divergence that could signal a reversal.

Key Insights in this episode

✅ The S&P 500 gained 1.2% and broke out of a bull flag while the DXY rejected a major trend line.

✅ Gold fell 2.3% and is testing critical support around $4,265 to $4,300 as GDX holds near its rising 200-day moving average.

✅ Silver dropped 3.5% but continues to hold its 50-day moving average with $63 acting as an important line in the sand.

✅ Uranium fell just 0.5% and is forming a potential bull pennant while SRUUF and URNM remain on my accumulation watchlist.