AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

9/3/2025: Spot gold approaches $3,600

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold surged 1.2% to close above $3,593, another all-time high, as Treasury yields and the dollar retreated after soft jobs data reinforced expectations of monetary easing by the Fed. Bullion has risen more than 6% over the past six sessions, achieving three consecutive record closes. Silver rose another 1.1% to finish at $41.54 an ounce.

Job openings in the US fell in July to the lowest level in nearly a year and the second lowest since the pandemic. Confused by tariff volatility, businesses are essentially frozen in place, neither adding nor laying off employees. The hiring rate stands at the lowest since 2013.

Separately, the Fed's Beige Book reported companies are "reluctant to hire" because of weaker sales resulting from US trade wars.

Benchmark 10-year Treasury yields fell to 4.22% as investors anticipate that the Fed will begin cutting interest rates this month to support the labor market. Fed funds futures traders now put the likelihood of a quarter-point cut at 98%.

Tracking lower with yields, the dollar lost 0.2% against major rivals. A weaker dollar lifts gold and other commodities by making them cheaper overseas, while falling yields support gold by decreasing the opportunity cost for holding it instead of bonds for safety.

Gold's record-breaking bull market is also underpinned by aggressive central bank buying and diversification away from the dollar because of tumultuous US trade, immigration, and foreign policies.

Platinum and palladium rose 2.4% and 2.8%, respectively.

At the New York spot close: gold gained $43.80 to $3,593.20; silver surged 47 cents to $41.57; platinum picked up $33.40 to $1,437.25; and palladium rose $32.10 to $1,168.50 an ounce.