Bullion Dealer: This Is Why There Are Shortages

Oct 28, 2025, 4:22 pm GMT

In October, extreme volatility returned to the precious metals markets. Despite the turbulence, both metals remain among 2025’s top-performing assets.

In this week’s update, I join Jan Skoyles to discuss whether this is the end of gold and silver’s remarkable run or the beginning of a new phase in their long-term bull market.

We explore:

Is this volatility a healthy correction or a sign of deeper structural stress?
What’s really driving gold’s uptrend rate cuts, a weaker dollar, or renewed institutional demand?
Why have 29 million ounces of silver been withdrawn from COMEX warehouses?
And why are central banks now holding more gold than U.S. Treasuries for the first time since 1996?

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About Author

David is the CEO of GoldCore. Until Summer 2023 he was the Director of Marketing and Communications, responsible for all marketing and communications strategies and branding. David joined GoldCore in 2008 as Director of Business Development and later took over as Director of Marketing and Communications in 2020. Prior to this Dave managed and operated his own Marketing Agency and completed multiple coaching qualifications. "Working for GoldCore gives you a fantastic lens through which to view global financial and geopolitical developments. I am very proud to be part of a company that contributes to increasing investors understanding of these developments." When he’s not at work, David is passionate about sailing and has completed the ‘Round Ireland Yacht Race’ twice.