Silver Over $50 & Gold Breaking $4,100
| 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: |
The price of Gold was $3,850 per ounce on October 1st. By October 20th, Gold reached an all-time high of $4,380, an explosive increase of $530 in just 19 days. Since then, Gold has traded both above and below the key $4,000 support/resistance level. Gold closed last Friday at $3,998 per ounce, up $13 for the week.
Key issues affecting the Gold price last week included the Federal Reserve lowering interest rates, a brief rally in the U.S. Dollar, and the continued U.S. government shutdown. On Friday, a private report issued by Challenger, Gray & Christmas showed weak U.S. employment numbers — the largest October decline in more than 20 years. This report provides insight into the labor market in the absence of federal data due to the shutdown. The weakness in employment has increased speculation that the Federal Reserve may cut interest rates again in December..
China’s Gold holdings rose to 74.09 million fine troy ounces at the end of October, up from 74.06 million the previous month. This marks the 12th consecutive month of accumulation, reflecting the continued trend of central banks buying Gold while reducing U.S. Dollar reserves.
Key U.S. Economic data to watch this week:
The week of November 10th to 14th 2025
- Thursday, Nov. 13: October Consumer Price Index (CPI); November Initial Jobless Claims
- Friday, Nov. 14: U.S. Retail Sales; Producer Price Index (PPI)
Today: In overnight trading, Gold began in Australia, moving above $4,000 per ounce and trending higher. After trading opened in China, Gold climbed above $4,040 on news that the U.S. Senate had reached an agreement to reopen the government. Momentum continued, with prices rising to $4,070 on strong trading volume. As trading moved through India, London, and New York, Gold reached a high of $4,106 per ounce.
Over the past two weeks, Silver has shown strong base-building in the $47 to $48 per ounce range. When Silver broke below the key $50 support level, many professional traders expected a quick test of $45. However, after this brief dip, Silver found renewed buying interest and solid price support.
Silver has returned to normal trading conditions, with no backwardation or squeeze issues. Nevertheless, global Silver warehouses and depositories remain at record low inventory levels. Silver closed last Friday at $48.07 per ounce, up $0.07 for the week.
The Silver-to-Gold ratio currently stands at 83.15-to-1.
Today: In overnight trading, Silver opened in China at $48.66 per ounce. Following the news of the Senate agreement to reopen the government, Silver began moving above $49 per ounce as trading volumes increased. As markets progressed through India, London, and New York, Silver reached a high of $50.25 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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