Gold & Silver Back On A Bullish Path

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On October 30th, the price of Gold hit a new 2026 low of $3,866 per ounce. That was down an unbelievable $1,720 per ounce from the all-time high of $5,586 per ounce reached on January 29th, 2026.

A good indication of what is likely to happen in the near future for precious metals prices was Tuesday night and Wednesday morning trading. After the election showed that a Democratic takeover of Congress was confirmed, Gold started moving higher. By the time trading reached London and the U.S., Gold was up over $125 per ounce. Gold closed last week at $4,072 per ounce, up $200 for the week.

I was very surprised to see Gold break below the key $4,000 per ounce support level in October. Now, I believe that the $3,866 low Gold reached in October will be the low for 2026, and we will be heading higher for the balance of 2026. The coming week should confirm this belief and my call for our clients to start adding to their Gold holdings now. However, there is a small chance that the U.S. will escalate the war with Iran, which would cause Gold to move lower for a short period of time.

I have been a long-term believer in Gold since 1970 ($37.44 per oz) and have seen numerous corrections followed by the price reaching a new all-time high shortly thereafter. Right now, I’m not alone with my bullish opinion of Gold. Many of the largest financial corporations (UBS, Goldman Sachs, JP Morgan, HSBC, and BofA) and many more believe, like me, that Gold will rally 28% or more by 2027 from the Oct. 30th low.

For years, I have told clients that I believe Crypto and Bitcoin are a 21st-century version of "Tulip Mania" and will be worthless by 2030. Some of my younger clients felt it was a better long-term investment than Gold. They sold their Gold coins and purchased Crypto in one form or another. The Oct. 30th announcement of a $6.3 billion Crypto hack from Binance, the world’s largest cryptocurrency exchange, said a lot. Binance said Blockchain evidence suggests the hack originated in North Korea, according to multiple crypto-tracing firms. Bitcoin dropped $3,700 on the news. Without going into a lot of detail, it’s very easy to just say Gold coins in your possession can’t be hacked or taken by computer entry.

Key Economic data to watch this week:

• November 9th, Monday: Sept. Wholesale Trade
• November 10th, Tuesday: Oct. Core CPI
• November 11th, Wednesday:
• November 12th, Thursday: Nov. 7th Weekly Jobless Claims, Oct. Existing Home Sales
• November 13th, Friday: Oct. PPI

Today: Early this morning, as Gold started trading around the globe, Gold slowly moved higher. Gold reached a high of $4,135 per ounce, up $60 as trading moved from China into India. As trading moved to London and the U.S., there was a little profit. The Gold price stayed above $4,100 as inflation fears eased on weaker oil prices after U.S. President Donald Trump said he was highly unlikely to order more attacks on Iran.

Last week was equally volatile for Silver, with Silver reaching a new 2026 low of $48.50 on Tuesday, but moving up $2.53 on the Wednesday after the election. It’s been a high-volatility year with Silver reaching an all-time high of $121.50 on January 29th, followed by a $73 correction last Tuesday. Silver closed trading on Friday at $51.80 per ounce, up $2.70 for the week. Like Gold, I think Silver is also back on a bullish track and recommend our clients make additional purchases of many of the popular Silver bullion products. I expect the price and the premiums to move higher for the balance of the year.

Today: Today in early overseas trading in China and India, Silver moved higher, from $51.80 to $53.58 per ounce on excellent volume. As trading moved to London and the U.S., there was some selling, but the price stayed above $52.50 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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