This Week:
- Weekly Price Overview – 22 October 2025
- Bullion Coins vs Numismatic Coins: Which Should You Buy?
- Bullion Bottleneck: Physical Supply Can’t Keep Up With Demand
- Gold at the Center of a Geopolitical Showdown?
- Chart of the Week: Gold’s History Rhymes — Are We Still Early?
- Silver Goes Mainstream — And the Market Reacts
Estimated reading time: 6 minutes
Weekly Price Overview – 22 October 2025
After weeks of relentless upside, precious metals took a breather this week — with a sharp overnight drop shaking out the froth. Still, both gold and silver remain in strong longer-term uptrends, and recent dips may offer a rare entry point for buyers who’ve been waiting on the sidelines.
🟡 NZD gold fell $113 to $7,170.51 (–1.55%), with a nearly 6% slide midweek bringing it back to its uptrend support line. The RSI has now cooled from overbought, offering a healthier setup. USD gold dropped $43.77 to $4,118.02 (–1.05%), but remains above $4,000 — a key psychological support.
⚪ NZD silver tumbled $6.19 to $84.25 (–6.84%), down over 10% from Friday’s high. After plunging from extreme overbought to neutral in one session, silver is back near trendline support — likely a solid zone to accumulate. USD silver fell $3.29 to $48.38 (–6.37%), just under its prior high.
💱 NZD/USD climbed 29 basis points to 0.5743 (+0.51%), but remains well below long-term resistance. The Kiwi’s ongoing weakness is still amplifying local precious metals prices.
📈 Takeaway: The correction may not be over — but with sentiment stretched and prices back to support, this looks like a classic consolidation. As always, averaging in on dips remains the strategy.
Bullion Coins vs Numismatic Coins: Which Should You Buy?
Thinking about buying gold coins — but unsure which type makes the most sense right now?
This week, we unpack the real differences between bullion and numismatic coins — including what most dealers won’t tell you. Whether you’re looking to protect wealth or potentially profit, this guide will help you make the right call for 2025.
Learn more about bullion vs collectibles
Bullion Bottleneck: Physical Supply Can’t Keep Up With Demand
There’s been a lot of action this week. With spot prices of silver and gold continuing to soar before a much overdue sharp plunge overnight.
Also, as we predicted 2 weeks ago when discussing silver backwardation, we have also seen a surge in the premium above spot price for both gold and silver products.
This week SD Bullion’s Chase Turner and Cole Keller discussed what we have also been starting to see down under, a global physical gold and silver shortage is unfolding. Despite falling spot prices, core products like Silver Eagles and Maples now face 7–10 day delays as wholesale and sovereign mint supply dries up.
What’s behind the crunch?
- Soaring global demand — especially from India, China, the UK, and now U.S. retail buyers.
- Major mints are backed up — often only producing against firm, pre-booked orders.
- High lease rates make it unprofitable for refiners to hold excess inventory.
- Institutional buyers and family offices are swooping in, taking large allocations — not in ounces, but in dollars.
As Cole puts it: “We’ve gone from having everything… to having just two or three products in depth. The rest is gone or delayed.”
Takeaway: We’re in the early innings of a physical supply squeeze. If demand continues, premiums will spike and delays will stretch further. SD Bullion notes it’s already seeing silver premiums jump from ~$3 to ~$7 over spot in days — and that’s with prices falling.
So there is less choice in products and what there is also have higher premiums.
Sovereign Mint coins are either hard to get or have very high premiums above spot. But we have secured plenty of supplies of a previously popular range. Now issued by the Island of Niue, still minted by Scottsdale Mint, is the 2025 Niue Lady Justice 1 oz Silver Coin.
We have that as a subscriber only deal. After bulk silver coins cheaper than small bars? Hit reply and we’ll send a quote.
Gold at the Center of a Geopolitical Showdown?
In a video update this week, Vince Lanci likens today’s gold market action to a modern-day London Gold Pool. He argues that the U.S. is no longer just defending the price of gold—but the perception of dollar dominance itself. As gold repeatedly breaks above the old “speed limit” of 2% daily moves, it’s drawing attention across the financial world—from Bloomberg to Beijing.
With gold now part of the geopolitical chessboard, potentially tied to negotiations between the U.S. and China, Lanci believes the dollar’s confidence game is being tested. Central banks may be intervening to suppress spikes, but this time, there’s a strong hand buying the dips.
“Somebody,” Lanci warns, “is calling the bluff.”
How after last night’s plunge, the key question is whether gold and silver can consolidate around these levels?
Chart of the Week: Gold’s History Rhymes — Are We Still Early?
Gold has been surging — and this chart compares today’s rally to the explosive 1980 run-up.. As Ryan Lemand notes, gold’s biggest moves often come fast and fueled by fear — typically driven by inflation, geopolitical tension, and collapsing confidence in fiat currencies.
With many of those same ingredients now in play, are we in the early stages of another parabolic move? History doesn’t repeat, but it often rhymes — and this chart suggests the next leg higher could be a big one.
Source: Macrobond, Bloomberg
Silver Goes Mainstream — And the Market Reacts
For the first time ever, ASB’s daily market commentary mentioned silver alongside gold. That’s significant— because silver rarely gets this kind of mainstream airtime.
ASB last week highlighted both gold and silver futures rising 2%, with gold nearing US$4,300, likely on the back of US–China tensions and expected Fed rate cuts. But as we often say, when the mainstream catches on, a correction often follows — and that’s just what we’ve seen overnight.
Takeaway: Silver entering the spotlight could mark the beginning of broader awareness — but as seasoned buyers know, the smart money moves before the headlines hit.
However the sharp overnight dip could present a prime opportunity to take a position — or average in if prices dip further. Sometimes, the best entries come after a market shake out.
Get in touch if you’re interested in either of today’s deals, or if you have any questions.
It’s been a busy week — apologies if you couldn’t reach us by phone. Sending us an email is the best way to ensure you get a timely quote.
Glenn's dedication to educating individuals on wealth protection through precious metals has helped over 2400 clients from New Zealand, Australia, USA and Europe to safeguard their financial futures. Passionate about financial independence and lifestyle freedom, Glenn’s mission is to empower others with the knowledge and tools to thrive in today’s volatile economic environment. When he's not advising on precious metals, Glenn enjoys spending time with his family and pursuing outdoor adventures.
Education: University of Auckland Bachelor of Science
Linkedin: https://www.linkedin.com/in/glenn-thomas-0984a4310/
