Weekly Market Overview for Week of Monday - August 18, 2025

Silver Leads as Gold Holds Range, Rare Coin Markets Stay Firm on Dovish Fed Tone

Wyatt McDonald

Aug 26th, 2025 · 3 Minutes

Precious metals advanced modestly with silver outpacing gold. 

Gold traded in a tight 3310 to 3375 range and finished slightly higher week over week, while silver pressed toward 39 and trimmed the gold silver ratio toward the mid 80s. 

Rare coin pricing was steady to firm with healthy dealer liquidity and no regulatory headwinds. 

A dovish tilt from the Federal Reserve’s Jackson Hole communications kept expectations for fall rate cuts intact, supporting metals along with other risk assets even as a brief U.S. dollar bounce tempered late-week gains. 

Structural demand remained a core theme for silver as industrial demand, especially from solar and electronics, continued to underpin silver’s leadership.

 

Daily Market Breakdown

 

Monday August 18 

The week opened quietly on Monday as investors positioned ahead of the Federal Reserve’s Jackson Hole symposium and monitored geopolitical headlines. 

Gold eased to roughly 3326 to 3343 and silver settled near 37.86, with muted volumes and a slight dip in the gold silver ratio toward 87 to 88 that signaled marginal relative silver strength. 

Market participants stayed in wait-and-see mode following hotter producer price data late the prior week and with Fed Chair Jerome Powell’s remarks looming, keeping day ranges tight and activity subdued. 

Coverage noted limited rare coin specific catalysts, with sentiment instead anchored to bullion’s stability and macro drivers (GoldPrice.org; Fortune; Hero Bullion; Bullion Exchanges).

 

Tuesday August 19 

On Tuesday, gold and silver ticked modestly higher as caution persisted. Gold closed near 3330.72 and silver around 38.07, with the ratio edging down to about 87.50. 

Technicals framed near term gold weakness inside a broader uptrend, with traders eyeing support in the low 3300s and resistance near 3395. 

Fed policy signaling remained the dominant macro driver into Jackson Hole. 

Rare coin activity was stable with no new regulatory developments reported, while bullion markets reflected safe haven interest and longer term inflation hedging demand even as day to day moves stayed small (GoldPrice.org; Fortune; Forex24.pro).

 

Wednesday August 20

Midweek trading on Wednesday saw consolidation amid a firm U.S. dollar and neutral to cautious tone. 

Gold hovered near 3314 and silver around 37.37, keeping the ratio elevated near 88 to 89. 

The policy backdrop and geopolitics shaped positioning, but the most consequential structural theme was the previously announced Chinese regulatory change requiring large insurers to hold physical gold, a move that touches trillions in assets and implies substantial incremental demand over time. 

That mandate reinforced the longer running trend of the official sector and institutional accumulation supporting the physical market. 

Commentary also highlighted record first quarter central bank purchases earlier this year and the potential for tighter silver balances given industrial demand. 

Rare coin pricing and liquidity were steady, with dealers noting two way markets as metals consolidated (AInvest; Gainesville Coins; GoldPrice.org; Fortune; USAGOLD).

 

Thursday August 21

Thursday brought modest gains and continued consolidation. 

Gold worked back toward the mid 3340s on many feeds while silver approached 38, with silver slightly outperforming and nudging the ratio lower. 

Headlines pointed to strong Swiss gold exports into the U.S. that added to the narrative of strategic stockpiling and resilient physical demand. 

India’s domestic price tone was softer on cooling retail demand, underscoring regional differences beneath the global uptrend. 

Overall, trading volumes were described as typical and sentiment neutral to positive ahead of Powell’s Friday appearance, with metals benefiting from a softer dollar bias under a patient Fed stance. 

U.S. rare coin markets were steady, particularly for certified U.S. gold and widely collected silver series, while top grade numismatics remained firm (Fortune; GoldPrice.org; USAGOLD; Angel One).

 

Friday August 22

Friday’s session saw mild divergence as gold eased to around 3338 and silver firmed to roughly 38.10, again reflecting silver’s relative leadership and easing the ratio toward the high 87s. 

London’s afternoon fix reflected similar levels, and the tone into and following Jackson Hole was broadly supportive for metals as investors looked to late year rate cuts. 

Dealers reported active two way markets in physical, with tight spreads on select U.S. Mint products and elevated interest in junk silver. 

Rare coin turnover remained healthy, and premiums were supported by robust collector demand, particularly for well graded pieces and recent popular U.S. issues. 

The broader takeaway was that any gold pullbacks were modest compared to strong year over year gains, while silver continued to benefit from industrial and investment flows (SilverPrice.org; Fortune; GoldSilver.com; Numismatic News; Angel One).

 

Saturday August 23

Momentum carried into Saturday as bullion rallied, with gold near 3371.73 and silver close to 38.92, tightening the ratio toward 86 to 87. 

Analysts continued to emphasize the structural bid from central banks and China’s insurer mandate, alongside expectations for easier U.S. policy after Jackson Hole. 

Silver’s year over year performance neared 30 percent, supported by demand from solar and electronics that has kept the market sensitive to supply deficits. 

While specific rare coin indices were not highlighted, the typical lag between bullion moves and numismatic pricing suggests collector markets should continue to see firm bids, especially for graded gold and popular silver types, as dealers adjust to higher spot levels (GoldPrice.org; USAGOLD; Trading Economics silver).

 

Sunday August 24

By Sunday into Monday’s early trade, a slight U.S. dollar rebound trimmed metals from late week highs. 

Gold eased toward the mid 3360s and silver hovered in the upper 38s to low 39s, with silver facing nearby technical resistance around 39.5. The weekly narrative remained intact. 

The Fed’s dovish tone supported risk assets, including metals, with silver leading on industrial tailwinds. 

U.S. and India spot snapshots reinforced the picture of consolidation at elevated levels. Rare coin markets were steady with healthy liquidity and no new regulatory headwinds. 

Looking ahead, traders will watch follow through from Powell’s remarks, the path of the dollar, and incoming inflation data. 

For potential sellers, current liquidity and pricing appear favorable, particularly for graded U.S. gold and widely collected silver series, while silver’s leadership argues for attention to timing against resistance near 39.5 (Trading Economics gold; Angel One; JM Bullion; USAGOLD).

 

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Sources

Tags: coin market weekly roundup

Wyatt McDonald President & Co-Founder of Coinfully. A student of numismatics and trained in the ANA Seminar in Denver, Wyatt is the face of Coinfully and a true expert. After spending a decade buying coins over the counter at a coin shop, he knew there had to be a better way, for everyone involved.

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