AGE Daily Gold Update

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

12/9/2025: Gold gains, silver surges past $60

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained 0.5% to close near $4,207 on expectations that the Fed will lower interest rates this week. Silver skyrocketed another 4.1% higher to close at a record high of $60.17, its first ever finish above $60 an ounce.

The Fed meets today on monetary policy with the market expecting that it will reduce interest rates by a quarter-point for the third time this fall. Fed funds futures traders put the likelihood at 87.4%, down slightly from yesterday but substantially higher than one month ago, when the odds were 67%.

Prominent Fed officials in recent weeks have signaled their preference to support a moribund labor market even if doing so conflicts with the other leg of their dual mandate, pushing inflation down to 2%. Traders will be especially attentive to the Fed's policy statement and Chairman Powell's post-meeting comments, scanning for clues about future rate cuts.

Lower interest rates are typically supportive of gold and silver because they pressure the dollar and reduce the opportunity cost for holding either metal as a safe-haven asset.

In something of a role reversal, gold was also pulled higher today in sympathy with silver, which rocketed above $60 for the first time behind a global supply deficit and projections of rising industrial demand in coming years. In addition to its status as currency and safe-haven asset, silver is used in higher-growth sectors such as solar energy, data centers, AI, and electric vehicles.

Platinum and palladium rose 2.7% and 1.8%, respectively.

At the New York spot close: gold gained $19.50 to $4,206.70; silver surged $2.39 to $60.17; platinum picked up $43.80 to $1,696.75; and palladium added $26.35, to $1,509.95 an ounce.