Great Week - Gold Moved Past $4,100 & Silver Rallies Over $51

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	China Turns Gold Into A Weapon Against The Dollar's Reign
	As bullion breaks $4,000, Beijing seizes its moment to build a yuan-backed financial order... Khac Phu Nguyen
	Silver Pushes Above $50: What’s Next For The Precious Metal?
	In what has been an unprecedented rally, investors are celebrating another major milestone in the precious metals market, with silver pushing above $50 an ounce to new record highs... Neils Christensen
	‘Huge Surge’ In Gold Trading In Australia As Prices Hit Record High
	The gold rush has well and truly begun in Australia as big lines form in CBDs and the nation set to score a huge win... Thomas Sargeant and Ella McIlveen
	Safe-Haven Demand Continues In Powerful Bull Runs In Gold, Silver
	Gold and silver prices are sharply higher in midday U.S. trading Wednesday, with December gold hitting a new contract/record high of $4,072.40... Jim Wyckoff
	China's Central Bank Extends Gold Buying Streak To 11 Months
	The People's Bank of China (PBOC) added 1.24 tonnes of gold to its reserves in September, marking the 11th consecutive month of purchases... Anirudha Basak
	Goldman Hikes December 2026 Gold Price Forecast To $4,900/oz
	Goldman Sachs raised on Monday its December 2026 gold price forecast to $4,900 per ounce from $4,300, citing strong Western exchange-traded fund (ETF) inflows and likely central bank buying... Reuters
	The Case For Gold: When The World Runs On IOUs
	Every so often, the global financial machine reminds us that it’s not powered by oil, technology, or even productivity—it’s powered by promises... Stephen Innes

Is Gold ridiculously overbought like some financial analysts said last week?

Well, Goldman Sachs just hiked their December 2026 forecast for Gold to $4,900 per ounce, and Bank of America is predicting that Gold will reach $6,000 by spring next year based on the debasement of the U.S. Dollar.
Plus, I continue to look for $5,000 per ounce by summer 2026.

Last Friday, President Trump announced a 100% additional tariff on all Chinese goods coming into the U.S. The Dow Jones Industrial Average reacted to this announcement by dropping 878 points. Gold didn’t have the time to react to Trump’s announcement, so I look for Gold to move higher in overseas trading Monday morning.

There are 4 major ways of investing in Gold and Silver:
 1) Popular Gold and Silver bullion coins and bars
The world’s largest Central Banks and investors around the world are buying Gold and Silver at record pace, with metals trading at an all-time high.
 2) Gold and Silver Future contracts on the commodity exchange
Trading volume and open interest are increasing as the Gold and Silver prices soar to record highs.
 3) Gold and Silver ETFs
Demand has increased $60 Billion since the beginning of 2025, as an alternative to buy and holding physical bullion coins. This is popular with stock brokers for their clients.
 4) Gold and Silver mining stocks or mutual funds
Investing in mining stocks makes you take the risk of the low-profitability and poor management of the mining company. But, some of the largest mining companies have shown a 50% to 80% increase this year in their stock price.

All four of these segments are showing extraordinary growth and higher prices this year.

It’s now 8 weeks in a row that Gold has gone up, reaching another all-time high of $4,055 per ounce on Wednesday. During the past eight weeks, Gold has gone from $3,336 per ounce to $4,055, up an amazing $719, an unbelievable 21.5%.
Last Friday, Gold closed at $4,000.40 per ounce, and that was before Trump’s Chinese Tariff announcement. In after-market trading, Gold reached $4,017 per ounce.

Reports continue to come in about heavy demand for physical Gold in Australia, Japan, China, Korea, and many of the Middle Eastern countries, as many dealers are sold out and are waiting to restock. Demand in the United States has increased, but not a panic like we saw in 1980, when Gold hit a high of $852 per ounce.

Key U.S. Economic data to watch this week:

The week of October 13th 2025 to October 17th 2025

• Monday: Holiday - Columbus Day – No data
• Thursday: September US Retail Sales and Producer Price Index
• Friday: September Housing starts

Today: The Gold market opened in Hong Kong and immediately rallied to $4,046 per ounce. As the Gold market moved to Mumbai, India, the rally continued, and Gold opened at $4,057 on heavy trading volume. Today’s Gold rally kept moving higher in London, opening at $4,071 and in the U.S. at $4,116. As of right now, today’s Gold high is $4,116 per ounce.

A severe shortage of physical Silver in London has driven the cost to lease Silver to an unbelievable 39.2% for just a 1-month lease in London. This spike in lease rates confirms that there is currently a global shortage of physical Silver and prices should continue to move higher.

The Silver shortage has been reported in numerous commodity markets around the world, especially in India. The primary Silver market in Mumbai, India, is quoting 10% or more over the spot Silver price for 32.15 .999 Kilo Silver bars.

The Silver price is clearly in a breakout rally. The only question is how fast and how far Silver will move above the $50 per ounce level. There is no historic guidance for this move.

The Silver-to-Gold ratio continues to trade around the 80-to-1 level.

Today: This morning, when Silver trading opened in Hong Kong, it immediately rallied to $50.77 per ounce. As the Silver market moved to Mumbai, India, the rally continued, and Silver opened at $51.48 per ounce in what was mostly a short-covering rally. Silver traded in London and New York between $51.48 and $51.96. Silver has crossed the $52 per ounce level and reached a high today of $52.12 per ounce.

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Barry Stuppler has been a professional numismatist for over 60 years and is considered one the nation’s foremost experts in rare coins and precious metals. Mr. Stuppler is a past President of the American Numismatic Association (ANA) and Professional Numismatists Guild (PNG). He is currently chairman of the Federal and California State Gold & Silver Political Action Committees, and president of the
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