AGE Daily Gold Update

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

9/12/2025: Gold scores 1% weekly win

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained 0.3% to close above $3,649 as soft consumer sentiment and a weakening labor market reinforced expectations for a rate-cut cycle from the Fed. Bullion rose 1% for the week. Silver rallied 1.7% for the session and 3.2% for the week to finish at $42.39 an ounce.

The University of Michigan Consumer Sentiment index fell for a second month in September, to the lowest level since May, as many Americans become increasingly worried about inflation and, especially, jobs.

Deep cracks in the job market have appeared in recent months as tumultuous trade policies have stymied the ability of businesses to plan and hire. Revised data show the economy lost jobs in June for the first time in more than four years, and job gains in July and August averaged around 50,000, just barely above stall speed. First-time jobs claims rose last week to the highest level in almost four years.

Data this week showed consumer inflation rose 0.4% in August, the fastest pace in seven months, driven by tariffs and the mass deportation of low-wage workers, causing food prices to jump 0.6%. But wholesale inflation was unexpectedly moderate for the month, leaving the door open for the Fed to reduce interest rates when it meets next week.

Fed fund futures trading is pricing in at least a quarter-point rate cut at 100%, with an 84% likelihood of a second one in October, and a 74% chance of a third quarter-point cut in December.

Lower interest rates weigh on the dollar and Treasury yields, supporting gold and silver by decreasing the opportunity cost for holding them as safe-havens and by making them cheaper in other currencies, boosting demand overseas.

Platinum picked up 0.8% for a weekly rise of 1.4%. Palladium added 0.8% today and a whopping 10.1% this week.

At the New York spot close: gold gained $12.50 to $3,649.40; silver rose 69 cents to $42.39; platinum climbed $11.20 to $1,400.95; and palladium advanced $9.70 to $1,229.30 an ounce.