Gold On The Way To $4,000 & Silver Moving Towards $50
| Stuppler & Company is proud to provide our clients this Weekly Market Report (WMR). The report gives you my overview of the prior week’s precious metal and rare coin market activity and news. In each WMR, I share the current status of Gold and Silver along with their support and resistance levels. |
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This Week's Headlines: |
For the past seven weeks in a row, Gold has continued to climb, closing the week at another all-time high of $3,880 per ounce. During this period, Gold has risen from $3,336 to $3,880, an impressive increase of $544, or 16.3%.
India’s citizens are celebrating Diwali in October, during which it is considered auspicious to buy Gold. It’s also Gold Week in China, where dealers have widened their discounts to between $31 and $71 per ounce below global benchmark prices, the deepest discounts seen in several years. This will further support Gold buying in China.
A weaker U.S. Dollar, the shutdown of the U.S. Government, and a deteriorating geopolitical situation are all pushing Gold rapidly toward the $4,000 per ounce level.
What is driving the premium drop on popular U.S. Gold and Silver coins?
Since March 2025, when the Gold price moved above $3,000 per ounce, the premiums on many popular U.S. and bullion Gold coins have been declining. Since March, we have seen a large number of U.S. Gold coins including Gold Eagles, Saints, Liberties, and Buffalos as well as Canadian Gold Maple Leafs and South African Krugerrands sold into the U.S. secondary dealer market.
Many dealers experienced a significant spike in their bullion coin inventories and began lowering their bid and ask prices. Currently, many of these items are trading near the spot Gold price, including circulated and brilliant uncirculated pre-1933 European Gold coins.
In September, Silver moved above $40 per ounce, and the popular Silver investment coins (1 oz U.S. Silver Eagles, 1 oz Canadian Maple Leafs, and Buffalo trade units) also saw a drop in premiums.
Some Gold sellers are unhappy with the lower premiums on their coins, but it’s a win-lose situation. Premiums could rise again, but for that to happen, the price of Gold would likely need to drop by $400–$500 per ounce. Such a decline would make buyers more aggressive, increasing premiums but at the cost of lower overall Gold prices.
However, given the current weak economic data, geopolitical instability, and U.S. government shutdown, a $500 drop in Gold seems unlikely. Gold sellers have another option: wait for premiums to rise again once the Gold price establishes a firm support level and new buyers view current prices as attractive.
Key U.S. Economic data to watch this week:
The week of October 6th 2025 to October 10th 2025
- Tuesday: August U.S. Trade Deficit; August Consumer Credit
- Thursday: October 4th Initial Jobless Claims; August Wholesale Inventories
- Friday: September Monthly U.S. Federal Budget
Today: The price of Gold moved past the $3,900 level, reaching a high of $3,918 on heavy volume as trading began in Sydney, Australia early this morning. When trading shifted to Hong Kong, Gold climbed to $3,922 per ounce at the open.
As trading moved to India, there was strong demand on the opening at $3,939 per ounce. In late Indian trading, just before the London market opened, some profit-taking occurred. Gold remained strong between $3,920 and $3,965 as trading continued in London and the U.S.
Like Gold, Silver has also risen every week for the past seven weeks climbing from $37.90 to $47.60 per ounce last Friday, an increase of $9.70 or 25.6% since August 15th. At $47.60 per ounce, Silver is trading at a 14-year high, approaching the all-time high of $50.35, reached in 1980.
What is driving the current Silver rally?
A combination of short-covering and fresh buying, particularly in India and China, drove prices higher last week. Many investors in India, China, and the Middle East view Silver as an excellent way to diversify their precious metals investments.
The Silver price clearly entered a breakout rally once it moved above $40 per ounce. The big question now is when and how profit-taking will occur and what the new key support and resistance levels will be. I believe that, after testing its support level, Silver will reach $50 before year-end.
The Silver-to-Gold ratio has dropped to 81.51-to-1.
Today: The price of Silver moved past the $48.00 level, reaching a high of $48.33 on strong volume when trading began in Sydney, Australia, early this morning. As trading continued in Hong Kong and India, the price kept climbing, reaching $48.58 on the opening in India. The Silver price traded actively in London and the U.S. between $48.40 and $48.80 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
Anti-Counterfeiting Educational Foundation. Barry Stuppler, the original founder of MintStateGold.com, is proud to say he has helped over 25,000 rare coin and precious metal investors and collectors to build their collections and holdings. For more information about Barry click here.
All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of Stuppler & Company’s knowledge at this time. Stuppler & Company disclaims and is not liable for any claims or losses which may be incurred by third parties while relying on information published herein. Individuals should not look at this publication as giving finance or investment advice or information for their individual suitability. All readers are advised to independently verify all representations made herein or by its representatives for your individual suitability before making your investment or collecting decisions.
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