Gold Over $3,800 oz & Silver Moved Above $47 oz
| 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: |
WHAT IS THE REAL REASON GOLD WILL MOVE OVER $4,000
How Trump is devaluing the U.S. Dollar, lowering interest rates, and stimulating the U.S. economy could ensure Republican victories in 2026 and 2028.
Over the past few weeks, in an effort to explain the recent bullish run in Gold, I have shared a lot of information in my Weekly Market Report:
1) The effort to internationalize the Chinese currency.
2) The world’s largest central banks are dumping U.S. Dollars and buying Gold.
3) India and Russia are using Chinese Yuan for foreign trade and selling U.S. Dollars.
4) The deteriorating geopolitical situation (especially in Ukraine and Gaza) is helping to create strong demand for Gold.
5) The recent drop in U.S. Interest rates and this year’s 15% drop in the U.S. Dollar.
6) President Trump’s administration is trying to take control of the Federal Reserve.
7) 30-100% Tariffs on foreign goods and drugs are driving up prices for U.S. consumers, and making comparable American goods less expensive for U.S. and foreign buyers.
How do all the above things tie the big picture together?
President Trump’s economic goals for the America First policy mean:
A. Building factories in the U.S. to help increase U.S. employment.
B. Lowering interest rates will cut the cost of interest on the National Debt.
C. Lowering interest rates will help home sales.
D. High Tariffs on foreign goods will drive Americans to cheaper U.S. goods.
High Tariffs and many of President Trump’s international actions will only help the Chinese in their effort to replace the U.S. Dollar as the world’s Reserve currency.
If the Chinese are successful, hundreds of central banks around the world will need to exchange U.S. Dollars for Chinese Yuan. This will severely devalue the U.S. Dollar, estimates range from a 30 to 50 percent drop in value.
The results of this devaluation will make American goods cheaper for export and make foreign goods more expensive to U.S. citizens. It will improve our national trade balance, and U.S. employment should increase.
President Trump’s political goals for the America First policy mean:
To make sure the Presidency and Congress will stay controlled by the Republican Party in 2026 and 2028.
Gerrymandering the maps in states like Texas, Missouri, and other republican states will help.
Raising hundreds of millions of Dollars from large American companies that benefit from Trump’s economic policies and receive large tax breaks will help Republicans' 2026 and 2028 campaigns.
Trump’s economic policies should help his political goals as American voters will support Republicans in 2026 & 2028 because of lower interest rates, higher American employment, lower prices for American goods at the market for a healthy economy in the U.S.
The value of precious metals and investment-quality collectibles is based on their world market prices. The value is figured in the local currency. A devalued U.S. Dollar will make these items cost more in U.S. Dollars. An example is: Last Friday’s price for one ounce of Gold was $3,765 U.S. Dollars, 3,210 Euros, and 18,054 Japanese Yen. If the U.S. Dollar were devalued and dropped 30%, the price of Gold would be $4,895 per ounce in U.S. Dollars, while the Euro and Yen prices would be the same. The values of Silver, Platinum, and Palladium will also show sizeable increases priced in U.S. dollars.
Any foreign made products, like a Mercedes-Benz, will be priced 30% higher, plus any tariff. The same is true for any imported product, automobiles, clothing, watches, toys, food, furniture, pharmaceuticals, and more. At the same time, it will make the price of any U.S. made product look more attractive because it has no tariffs and the devalued Dollar.
Gold closed last Friday at $3,765 per ounce, up $293 during the month of September. Gold has increased for six weeks in a row and is up $1,136 (43%) since the start of 2025.
Key U.S. Economic data to watch this week:
The week of September 29th to October 3rd 2025
- Monday: August Pending Home Sales
- Tuesday: September Consumer Confidence
- Wednesday: September ADP Employment, September Auto Sales
- Thursday: Sept 26th Initial Jobless Claims, August Factory Orders
- Friday: September Employment Rates and Report
Today: Gold trading last night and this morning in overseas markets was highly volatile. Gold moved up to $3,799 in Australia, then sold down to $3,793 as Hong Kong opened.
Then, as Hong Kong (a major exchange) started trading, the volume picked up and Gold moved over $3,800 per ounce, reaching a high of $3,805. When Gold opened in India, the price moved up to $3,812, then higher in London and in New York, reaching a high of $3,834.
The Silver price has gone ballistic, moving from $43 per ounce to over $46 in just one week. The Silver price closed last Friday at an amazing $46.22, another 14-year high, up $3.21 (7.4%) for the week, and up $6.02 for the month of September. Silver has increased in value for six weeks in a row and is up $17.28 (59%) since the start of 2025.
What is driving the current Silver rally? A combination of short-sale covering and fresh buying, especially in India and China, has driven the price higher last week.
The Silver price is clearly in a breakout rally when the price moved above $40 per ounce. The big question is when and how this rally will see profit-taking, and what will be the new key support level for Silver. I believe that after testing the support level, Silver will reach $50 by year's end.
As the Silver price moved higher at an astonishing pace, the premiums on many of the popular investment-quality Silver coins and bars have dropped, due to heavy selling.
The Silver-to-Gold ratio has dropped to 81.66-to-1.
Today: Silver traded today in overseas markets and the U.S. between $46.30 and $47.18. Demand in China and India was strong while the Silver price reached a high of over $47.18 per ounce, before seeing serious profit-taking. The profit-taking keeps Silver under $47 in Indian, London, and on the opening of New York..
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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.













