AGE Daily Gold Update

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

9/9/2025: Gold edges up on rate view

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold edged up 0.1% to close above $3,643 despite mild rebounds in Treasury yields and the dollar as new evidence of labor market weakness raised expectations that the Fed will cut interest rates this month. It was bullion's sixth record finish so far in September. Silver slipped 1.3% to $40.88 an ounce.

The economy created 911,000 fewer jobs in the 12 months through March than originally estimated, according to the BLS annual benchmark revision. The downgrade means roughly 76,000 fewer jobs per month were added, cutting the average monthly increase in half for this period.

Every year the BLS refines the monthly nonfarm payrolls totals from the previous April through March by using the Quarterly Census of Employment and Wages, a far more complete database of employment. The current revision, the biggest since 2009, indicates a far weaker labor market than originally thought.

Fed fund futures traders raised the odds of a quarter-point rate cut by the Fed this month to 92% after the revision, up from 89% before it. This week's release of the PPI and CPI should give further clues about the course of interest rates.

Still, benchmark 10-year Treasury yields rebounded slightly from five-month lows, capping gold's rise by increasing the opportunity cost for holding it instead of bonds for safety.

The dollar added 0.3% against major rivals but hovered near a seven-week low, pressuring gold and other commodities by making them more expensive in other currencies.

Platinum and palladium slid 0.8% and 0.2%, respectively.

At the New York spot close: gold gained $5.20 to $3,643.30; silver slid 55 cents to $40.88; platinum slipped $11 to $1,372.65; and palladium dipped $2.80 to $1,136.65 an ounce.