Gold and Silver in 2025: What Investors Need to Know About Supply, Demand, and Lead Times

The global precious metals market is moving fast – and for many investors, it feels like everything is happening at once. Prices have surged, pulled back sharply, and demand for physical gold and silver has continued to rise. At the same time, product availability has tightened, lead times have extended, and sovereign mints are placing certain items on allocation.

At MyGold, we recently attended the World Money Fair in Berlin, speaking directly with mints, wholesalers, and industry leaders from around the world. What we saw on the ground confirms what many investors are experiencing online: this is not a normal market cycle.

Here’s what’s really happening – and what it means if you’re investing in gold and silver right now.

“Nobody Has Product” – Is There Really a Supply Shortage?

One of the most common questions investors are asking is whether there is an actual shortage of gold or silver.

The short answer: it’s not a metal shortage – it’s a production bottleneck.

Globally, silver and gold are still coming through the supply chain. However, mints are operating at full capacity trying to keep up with unprecedented demand. Blanks, equipment time, staffing, and minting schedules are all under pressure. Some mints are prioritising certain products, while others have temporarily stopped taking new orders on silver items altogether.

This has resulted in:

• Extended lead times
• Allocations on popular products
• Certain SKUs being unavailable for periods of time

From an investor perspective, this reinforces an important point: having physical metal in your hands matters. Paper exposure carries counterparty risk. Physical bullion does not.

Gold and Silver Price Volatility – What’s Driving It?

Gold and silver prices have experienced a record run-up followed by sharp pullbacks in a very short period of time. This volatility has been one of the biggest talking points at the World Money Fair.

Markets are reacting to:

• Geopolitical uncertainty
• Inflation concerns
• Central bank activity
• Investor demand for safe haven assets

While short-term price movements can feel unsettling, long-term investors understand that volatility is part of the process. Historically, gold and silver have rewarded patience, not timing perfection.

At MyGold, we often remind customers: precious metals are not short-term trades – they are long-term stores of value.

Why Lead Times Are Being Pushed Out

Many investors visiting the MyGold website have noticed longer-than-usual lead times. This is understandably frustrating, but it reflects a broader global reality.

Here’s why lead times are extending:

• Demand has increased significantly
• Sovereign mints are operating at capacity
• Some mints are placing products on allocation
• Production pipelines take time to ramp up

This is now considered the “new normal” in the precious metals market.

Behind the scenes, MyGold is actively securing supply by working closely with mints and wholesalers. Our back-office and logistics teams are working harder than ever to bring product into New Zealand and Australia as quickly as possible.

Are Premiums Going Up – and Why?

Another frequent question is around premiums on gold and silver products.

Yes, premiums have increased across the board – but context matters.

Sovereign mints have worked hard to keep premiums as low as possible. However, rising production costs, higher silver lease rates, and supply chain pressures are flowing through. Interestingly, because spot prices have risen so significantly, premiums as a percentage of total price often feel less noticeable than they would have in a lower-priced market.

In other words, what looks like a premium increase in dollar terms may actually represent a smaller portion of the overall investment than in previous years.

Is This a Silver Problem or a Production Problem?

From conversations with some of the largest players in the industry, the consensus is clear:

This is primarily a production issue, not a silver availability issue.

Silver is entering the pipeline, but turning that silver into coins and bars takes time. Equipment capacity, blank availability, and competing product priorities (such as cast bars) are all contributing factors.

Production is happening at a pace the industry hasn’t seen before – but scaling large operations doesn’t happen overnight.

Why Sovereign Mints Are Going on Allocation

Allocations are becoming more common, especially for silver products. This means mints limit how much product each distributor can purchase.

From an investor’s perspective, allocation systems often lead to:

• Faster sell-outs
• First-come, first-served availability
• Increased competition for popular items

At MyGold, when allocated products become available, the advice is simple: if you see it and you want it, don’t wait.

Is Now Still a Good Time to Buy Gold and Silver?

This is perhaps the most important question of all.

From what we’re seeing globally, demand for physical precious metals remains strong. Price pullbacks often attract even more buyers, which can further strain production and supply.

While no one can predict exact price movements, history shows that gold and silver have never disappointed long-term holders. These metals are about preservation, not speculation.

As we often say: keep stacking, stay patient, and focus on the long-term.

What This Means for MyGold Customers

At MyGold, our priority is transparency. If lead times are extended, we communicate that clearly. If products are on allocation, we make that known. And when stock becomes available, we encourage customers to act decisively.

We are confident in our ability to continue supplying the New Zealand and Australian markets, but availability will remain dynamic. The key takeaway for investors is this:

Physical precious metals are in demand. Production takes time. Opportunity favours preparedness.

Final Thoughts

The precious metals market is in a unique moment. Demand is high, prices are volatile, and production is under pressure. But for investors who understand the role of gold and silver, this environment reinforces why physical bullion remains so valuable.

At MyGold, we’re committed to sourcing, supplying, and supporting our customers through every stage of their investment journey – even when the market gets busy.

If you see something you like, don’t hesitate. In today’s market, availability can change quickly.

Keep stacking. Stay patient. Think long term.