LARGO, Fla. – The price of gold has smashed through $4,000 an ounce for the first time on record, with silver racing toward $50/oz. amid safe-haven buying and policy shifts that favor industrial metals.
Analysts point to global economic uncertainty, central-bank demand and renewed retail interest as key drivers.
READ: Grocery bills are most expensive in these major cities, analysis finds
By the numbers:
As of Wednesday, October 8, 2025, gold has topped $4,050/oz intraday – an all-time high. Silver has also neared $49-50/oz. – the strongest level since 2001 and flirting with a record.
Local perspective:
At Arnold Jewelers, a 42-year family business in Largo, store manager Zach Arnold said foot traffic and phone calls are surging as prices soar.
“Gold and silver are record, record high,” said Arnold.
MORE: Toyota recalls nearly 400,000 cars over rearview camera issue
The weight of gold has never been worth this much before, the value is a surprise to even longtime customers.
“We get people that have sold a $100,000 or more for a little tiny bit of gold. It is shocking how much gold is worth,” he said.
Why you should care:
If it’s gold, and you don’t wear it, Arnold’s advice is simple: “If you bought something like in the 90s, this would’ve cost you two, 300 bucks, and now you can get 10 times your money for it. Heck yeah, take it and run. If you’re not wearing it, sell it.”
While gold grabs headlines, silver’s percentage gains have been even faster this year, boosted by industrial demand (think solar, semiconductors) and investor inflows.
READ: Social Security recipients getting double payments this October; here’s why
“Silver is actually the biggest mover of them all,” he said. “Silver is gaining on average about 3-4% every single day.”
Dig deeper:
Arnold notes that tariffs, global uncertainty and manufacturing demand are all in the mix. Big, rapid moves in metals aren’t usually a rosy sign for the broader economy.
“Usually when you see moves like this, this means you’re heading either towards like a recession or a depression. And with these moves it eventually comes to a peak, then the crash,” Arnold said.
Arnold still views metals as a strong, long-term play that typically appreciates over time. For bigger budgets, he recommends gold bullion; for newcomers, start smaller. A gold coin is worth about $4,100 and a silver coin is $52, the silver coin offers a more wallet-friendly entry point.
What you can do:
Before you sell or buy, know the value of gold and silver and shop more than one offer.
“I can’t stress this enough to people: Always do your due diligence. Shop around. Never take your first quote,” he said.
What’s next:
Some investment pros think gold has more room to go up in price. They expect a rise to $4,200 an ounce over the coming months. Goldman Sachs is forecasting gold could hit $4,900 by December 2026.
The Source: Sources for this report include interviews with a local jewelry store, stock market data and investment news.
