AGE Daily Gold Update

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

8/4/2025: Gold gains for third session

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained another 0.8% to close above $3,374 as Treasury yields and the dollar slid on expectations that the Fed will cut interest rates sooner than expected because of deteriorating US economic conditions. Silver rose 1.1% to finish at $37.19 an ounce.

US factory orders plunged 4.8% in June, according to the Commerce Department, reversing gains from May as commercial aircraft orders tumbled. The data reinforced Friday's ISM report that showed manufacturing contracted for the fifth straight month in July. Manufacturing accounts for nearly 11% of GDP.

Cracks in the labor market are widening under pressure from Trump administration trade policies. The economy added merely 73,000 workers to payrolls in July, while totals for May and June were revised lower by 258,000 jobs. Analysts say employers are reticent to fill openings because of confusion over ever-changing tariffs.

Against this backdrop, President Trump announced another round of massive tariffs, creating additional uncertainty for businesses and consumers.

Benchmark 10-year Treasury yields dropped under 4.2% as traders speculated that softer US data will prompt the Fed to cut interest rates sooner. CME FedWatch puts the odds of a September cut at 87%, up from 65% last week.

Tracking lower with yields, the dollar fell another 0.4% against major rivals, supporting gold and other commodities by making them less expensive in other currencies.

Platinum climbed 1.7% while palladium fell 1.1%.

At the New York spot close: gold gained $27.70 to $3,374.40; silver rose 41 cent to $37.19; platinum picked up $22.40 to $1,326.40; and palladium shed $13.90 to $1,197.95 an ounce.