AGE Daily Gold Update

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

9/4/2025: Gold slips on profit-taking

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold slipped 0.8% to close under $3,526 as the dollar rose and traders took profits from bullion's recent record highs despite a new round of weak jobs data. Silver shed 1.5% to finish at $40.91 an ounce.

First-time jobless claims rose to 237,000 last week, the highest level since late June, signaling additional softening of the labor market. Separately, ADP reported private payrolls added merely 54,000, substantially fewer than the 75,000 forecast.

Tomorrow's release of the government Nonfarm Payrolls Report, considered the definitive data on employment, should provide additional clues about the job market—and the Fed's willingness to cut interest rates this fall.

The July NFP showed an anemic 73,000 new jobs added while totals for the prior two months were revised lower by 147,000, prompting President Trump to fire the head of the nonpartisan Bureau of Labor Statistics. Most forecasts expect 75,000 jobs being added in August.

The dollar picked up 0.2% against major rivals as bargain-hunters entered the market ahead of tomorrow's jobs data. A stronger dollar weighs on gold and other commodities by making them pricier in other currencies.

Platinum and palladium fell 4.3% and 3.4%, respectively.

At the New York spot close: gold slid $27.40 to $3,565.80; silver dropped 63 cents to $40.91; platinum retreated $62.50 to $1,374.75; and palladium fell $35.55 to $1,128.95 an ounce.