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CC/09-25Friday 25 September 2026The Gold & Metals Desk · Gold & Metals Desk · The Tape
Gold & Metals Desk · The TapeGold & Metals · CC/09-25

Gold rises $42.10 to $4,296.60 after Thursday's four-metal fall

Silver gained 1.45% and platinum 0.92% on the Kitco bid at 06:07 ET, against Thursday's marks. London's newest fixes, all dated 24 September, still point the other way.

By The Metals Desk25 September 2026Brief 30 sec · Full read 1 min
PLATE IThe number
$4,296.60
Gold spot
+$42.10, +0.99%
$64.503Silver spot
$1,759.00Platinum spot
$1,243.00Palladium spot
Source Kitco board, bid basis, re-read at press time 06:07 ET 25 September 2026 · change measured against the 24 September marks
What changed

All four metals rise. Spot gold read $4,296.60 an ounce at press time, $42.10 above its 24 September mark. Silver, platinum and palladium each rose too, and silver rose furthest in percentage terms.

What it means · The Desk’s View

If you buy metal this session: Gold is $42.10 dearer than Thursday's mark, silver $0.925 dearer and platinum $16.00.

If you price jewellery in gold: A 0.99% move changes a gram cost, not a ticket. The session range on gold was $43.70.

What this is not: A recovery of Thursday's fall. Gold is still $19.50 below its 23 September mark of $4,316.10, so two sessions have not been made back.

The article3 sections · 108 words
Table I · The board against Thursday's marksKitco, bid basis · 06:07 ET 25 September 2026 against the 24 September marks
Metal24 Sep25 SepChange%
Gold4,254.504,296.60+42.10+0.99%
Silver63.57864.503+0.925+1.45%
Platinum1,743.001,759.00+16.00+0.92%
Palladium1,240.001,243.00+3.00+0.24%
Basis every figure is the bid on Kitco's own embedded price data, the convention this tape has carried since 31 August 2026. The ask at the same tick read 4,298.60 on gold, 64.753 on silver, 1,769.00 on platinum and 1,283.00 on palladium. The arithmetic each percentage is this desk's own division of the change by the 24 September mark, shown so it can be checked: 42.10/4,254.50 = 0.9895%; 0.925/63.578 = 1.4549%; 16.00/1,743.00 = 0.9180%; 3.00/1,240.00 = 0.2419%. Second door CNBC's four spot quotes, stamped 06:10 to 06:11 ET: gold 4,301.09, silver 64.6788, platinum 1,763.01, palladium 1,261.17. Compared against Kitco's own mid rather than its bid, because CNBC publishes a single composite last price and not a bid/ask pair: -0.081%, -0.079%, +0.056% and +0.145%. All four agree within rounding and no divergence is disclosed. Not Kitco's own change field the board showed gold +23.20 and +0.543% on this read, measured from its own prior basis; the +42.10 and +0.99% printed here are measured from this paper's own 24 September mark, which is the only basis under which the tape's sessions line up. No market-state claim nothing here says the session was open, closed or thin; the live tick and the session range are the only evidence offered that the cells are not frozen.

ISilver leads the four

One metal moved most. Silver gained 1.45%, the largest percentage move on the board. Palladium's 0.24% was the smallest.

The range was wide. Gold's session high and low on the same board were $4,299.60 and $4,255.90, a range of $43.70.

IILondon last fixed lower

The fix points down. LBMA's newest published fixes are all dated 24 September and all four fell: gold to $4,266.40, silver to $63.58.

The screen sits higher. Gold's press-time bid is $30.20 above Thursday's PM fix, 0.71% higher. Palladium's bid is $26.75 below its own fix.

IIIThe ask sits above the bid

Two prices exist. At the same tick the ask read $4,298.60 on gold and $64.753 on silver, above the bid printed here.

A second board agrees. CNBC's spot quotes, stamped 06:10 ET, read $4,301.09 on gold and $64.6788 on silver, within 0.15% of Kitco's mid.

The depthMethod, sources, corrections · open what you need
01What would change this call+

A later tick. Spot metal moves through the session and this is one press-time reading; any tick that crosses back below the 24 September marks would contradict the direction printed here. The London fixes cited are Thursday's, so they can confirm Thursday's direction and cannot confirm this session's, and the 25 September fixes had not been struck when this was written.

02Bid, ask and fix are three different numbers+

A screen bid is what a dealer will pay, a screen ask is what a dealer will sell at, and the difference between them is the spread rather than a disagreement. A London fix is a third thing again: an auction-determined benchmark struck at a set hour and published once, which is why it can sit a long way from a screen price taken at another moment. This tape quotes the bid, and has done since 31 August 2026, so that every comparison across sessions is like for like. Comparing a fix with a screen quote, or a bid with an ask, produces a divergence that is arithmetic rather than news. It also means a screen can be above a fix and below it on two metals at the same instant, which is what the palladium line shows here.

03Method · the desk’s arithmetic+

Kitco's board was fetched at press time and read out of the page's own embedded __NEXT_DATA__ blob rather than off the rendered page, bid quoted; the response was 197,100 bytes and every metal carried its own originalTime of 2026-09-25T06:07:59Z. The 05:00 tape had filed gold 4,293.30, silver 64.454, platinum 1,756.00 and palladium 1,240.00; all four differed at press time, so under the One-Price Rule all four were written back to newsroom/tape/2026-09-25.json and to latest.json in the same step, and the two files were compared afterwards on gold and silver and match. The figures printed here are the written-back ones. Prior marks were not reversed out of any change field: they are the 24 September tape's own archived values, gold 4,254.50, silver 63.578, platinum 1,743.00 and palladium 1,240.00, printed by tools/prev-mark.py. Palladium's prior mark and its 05:00 mark were the same number, which is why its change is the smallest on the board and not because it did not trade. The second door was CNBC's quote pages for XAU=, XAG=, XPT= and XPD=, read three minutes later; its single composite last price is compared against Kitco's mid rather than its bid, because comparing a composite against one side of a bid/ask pair would manufacture a gap. All four LBMA feeds were fetched directly and separately, not through a summariser: gold_pm.json 914,989 bytes, silver.json 898,265, platinum_pm.json 557,070, palladium_pm.json 554,014. Each one was opened and searched for its own newest point, and all four carry 2026-09-24 and nothing later, which is the basis for the sentence that London's newest fixes are Thursday's. London's PM fixes publish at 15:00 London time, after this reading, so no 25 September fix could exist at press time. The four London moves from 23 to 24 September are this desk's own divisions from those same feeds and all four are falls: gold 4,266.40 from 4,284.45, silver 63.58 from 65.185, platinum 1,753.60 from 1,768.10, palladium 1,269.75 from 1,272.25. The two screen-against-fix figures are also this desk's own: 4,296.60 less 4,266.40 is 30.20, and 30.20/4,266.40 = 0.7079%, printed as 0.71%; 1,243.00 less 1,269.75 is minus 26.75. The 23 September comparison in the desk's view uses that date's archived tape mark of 4,316.10: 4,316.10 less 4,296.60 is 19.50. No market condition is claimed anywhere in this article.

04Sources6 documents
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