AGE Daily Gold Update

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

10/3/2025: Gold climbs to new record high

Source: Matt Warden, American Gold Exchange

Austin — Gold prices resumed their rally on Friday after pausing the day before, with spot gold last trading near a new record high of $3,895/oz, keeping the metal on track for a seventh consecutive weekly gain. Thursday’s pullback was largely driven by profit-taking and overbought conditions but renewed safe-haven demand has brought buyers back into the market.

The U.S. government shutdown has delayed the Bureau of Labor Statistics’ release of September employment figures, depriving policymakers of a key data point ahead of the Fed’s October 29 meeting. In contrast, the private ADP report released Wednesday showed a loss of 32,000 jobs and downward revisions to August, underscoring persistent labor market weakness. With expectations for another 25-bps Fed cut now firming, gold continues to benefit from lower yields, a softer U.S. dollar, and uncertainty around the U.S. economic outlook.

Underpinning the rally this year is central bank demand, which has remained robust throughout the year. Large reserve holders such as China, India, and Turkey have steadily increased their gold purchases, seeking diversification away from the U.S. dollar and protection against geopolitical and fiscal risks. This persistent buying has provided a strong demand floor, helping gold maintain momentum even during periods of profit-taking or temporary strength in the dollar.

Silver has also seen steady support, with spot last trading around $48.10/oz, buoyed both by safe-haven flows and industrial demand. Its role as a key component in solar panels, electronics, and other industrial applications provides fundamental strength, while relentless ETP inflows underscore the growing investor confidence in silver as a store of value.

At the New York close: Dec gold climbed $39.60 to $3907.7; Dec silver leapfrogged $1.50 higher to $47.87; Jan platinum surged $53.40 to $1639.40; and Dec palladium added $26.70 to $1286.00.