Palladium reads $1,170.00, 3.39% under the 30 September mark
Gold, silver and platinum also sit below Carat Capital's 30 September mark, by 0.54%, 0.39% and 0.23%. Palladium is the only one of the four also down on the board's own session change.
By Carat Capital
What changed
The widest faller was palladium. Palladium is $1,170.00 on the Kitco bid at 06:37 EDT, $41.00 below Carat Capital's 30 September mark. The other three metals are each down less than 0.6% on the same anchor.
What it means
- If you hedge palladium: Its $40.00 spread is twenty times gold's as a share of the bid.
- If you price gold: Gold is $4,168.90 and platinum $1,708.00, both under the prior mark.
- What this is not: A reason. No source consulted publishes a cause for these moves.
Key figures
| Palladium, Kitco bid, 06:37 EDT3.39% under the 30 September mark of $1,211.00 | $1,170.00 |
|---|---|
| Palladium bid-ask spread, against $2.00 on gold | $40.00 |
| Gold, 0.54% under the mark | $4,168.90 |
| Platinum, 0.23% under the mark | $1,708.00 |
Source: Kitco precious-metals board, read 06:37 EDT 1 October 2026, 197,805 bytes · CNBC quote endpoints 06:41 EDT · prior marks from Carat Capital's 30 September tape
Palladium carries the widest spread
Forty dollars wide. Kitco quoted palladium at $1,170.00 bid and $1,210.00 ask. Gold's spread on the same board was $2.00.
The day ranged wide. Kitco's own high and low for the session were $1,242.00 and $1,160.00. The range is 7.07% of the low, on Carat Capital's division.
Wider than August. Palladium's spread was 2.91% of its bid on 31 August and is 3.42% on this board. The cost of trading it was already the board's worst and has widened.
| Metal | 06:37 EDT bid | 30 Sep mark | Change | % of the mark |
|---|---|---|---|---|
| Gold | $4,168.90 | $4,191.60 | -$22.70 | 99.46% |
| Silver | $60.681 | $60.918 | -$0.237 | 99.61% |
| Platinum | $1,708.00 | $1,712.00 | -$4.00 | 99.77% |
| Palladium | $1,170.00 | $1,211.00 | -$41.00 | 96.61% |
Notes on this table
Every percentage in the last column is Carat Capital's division of the day's bid by the prior mark, shown so the two can be compared: palladium 1,170/1,211 = 96.61% of the mark, so 3.39% under it; gold 4,168.9/4,191.6 = 99.46%, so 0.54% under it. The prior marks are the figures Carat Capital printed on 30 September, not either board's own previous close, which is why Kitco's session-change field reads the other way on gold, silver and platinum. All four prices are the bid.
Three metals depend on the anchor
The signs disagree. Kitco's session change reads gold up 0.31%, silver up 0.65% and platinum up 0.35%. Against the 30 September mark all three are lower.
Two different questions. A session change measures the move since the previous close. The mark measures the move since the last figure Carat Capital printed. Neither is wrong.
Palladium alone agrees. Palladium is down $18.00 on Kitco's own session change and down $41.00 against the mark. It is the only metal of the four where both anchors point the same way.
A second page agrees
CNBC matched Kitco. CNBC's quote endpoints read gold $4,168.49 and palladium $1,186.44 at 06:41 EDT. Both sit inside Kitco's quoted bid-ask range for the metal.
No divergence held. Measured against Kitco's mid, the largest gap of the four is platinum's at 0.21%. All four are inside rounding, so nothing is disclosed.
The board was live. CNBC's market-status field read REG_MKT on all four quotes, stamped 06:41 EDT. Kitco's own timestamps ran seconds apart across the metals.
What to watch
- LBMA fixes, 1 OctoberWhether the London fixes confirm the direction the screen showed on 1 October, on all four metals.
- The 05:00 filing, 2 OctoberWhether palladium's spread narrows back toward the two dollars gold is quoting.
- Any platinum-group supply noteWhether a producer, refiner or exchange publishes a cause for palladium's move.
The story so far
Go deeper
What would change this call
A narrower spread, or a London fix in the other direction. The whole of the palladium reading above is a screen quote with a forty-dollar gap between what a seller is bid and what a buyer is asked, which means the honest statement of palladium's price on 1 October is a range and not a point. A London fix, which is a single auction-cleared number, would settle it; so would a day on which the bid-ask narrows to something like gold's. If either happens and palladium's level holds, the move is real and the spread was noise. If the spread stays this wide, the more useful figure for anyone trading the metal is the cost of crossing it, which today is larger than three of the four metals' entire daily moves.
What a bid-ask spread costs
A price board prints two numbers for every metal: the bid, which is what a buyer of the metal will pay, and the ask, which is what a seller will take. The gap between them is the spread, and it is the first cost anyone pays to trade, before commission and before the price moves at all. On a liquid metal the spread is almost invisible. Gold's on 1 October is two dollars on a four-thousand-dollar ounce, which is 0.048% of the bid, so a round trip in and straight back out costs under five hundredths of one percent. Palladium's is forty dollars on an eleven-hundred-dollar ounce, 3.42% of the bid, roughly seventy times gold's in proportional terms. The practical reading is that palladium's quoted level is less informative than gold's quoted level, because the true clearing price sits somewhere inside a band three percent wide, and a single printed figure has to choose a side of it. Carat Capital prints the bid on all four metals, a convention this tape has carried since 31 August, so that the same side is printed every day and the day-on-day change is a comparison of like with like rather than a comparison of a bid with a mid. A reader who needs the other side has the ask in the table note and in the tape's own entry.
Method
The board was fetched once at press time with a browser user agent, 200, 197,805 bytes, and the four quotes were parsed programmatically out of the page's embedded JSON rather than read off the rendered table. Kitco's bid, ask and mid, as saved: gold 4168.9 / 4170.9 / 4169.9, silver 60.681 / 60.930 / 60.8055, platinum 1708 / 1718 / 1713, palladium 1170 / 1210 / 1190. Kitco's own originalTime stamps ran from 06:37:56 to 06:38:56 across the four metals, seconds apart, which is a live ticking board rather than a cached one, and no closure or holiday is claimed anywhere in this article. The second page was CNBC's quote service, four separate endpoints of 853 to 877 bytes each, every one carrying curmktstatus REG_MKT and last_time 06:41:00 or 06:41:01 EDT: gold 4,168.49, silver 60.7956, platinum 1,716.65, palladium 1,186.44. Against Kitco's own mid those four differ by -0.0338%, -0.0163%, +0.2131% and -0.2992%, all inside rounding, so no divergence between outside sources is disclosed. The prior marks were not derived from anything: they are the figures Carat Capital printed for 30 September, looked up in that day's tape, which gives gold 4,191.60, silver 60.918, platinum 1,712.00 and palladium 1,211.00. Every change and percentage in this article is Carat Capital's own arithmetic against those marks, and each division is printed beside its sentence so the two can be compared. The 2.91% August spread comes from this paper's own 31 August article on the same instrument. Archive check, read rather than counted: a search of the built site for palladium returns the 31 August piece as the nearest match, which covers the 31 AUGUST session at a level of $1,374.00 and a spread of 2.91%; this item covers the 1 OCTOBER session at $1,170.00 and a spread of 3.42%. Same instrument and same analytical frame, different session, so the verdict is ADVANCED, not repeat, and the earlier finding is cited rather than re-presented as new.