Carat^Capital
Carat Capital · The trade paper of the jewelry world · Est. MMXXVI · Free to read
CC/09-22Tuesday 22 September 2026The Gold & Metals Desk · The tape
The tapeGold & Metals · CC/09-22

Gold falls $14.50 to $4,333.70 with all four metals lower

Silver gave up 0.92% and palladium 0.78% against Monday's marks on Kitco's bid. Gold's overnight range ran from $4,290.70 to $4,376.90, a span of $86.20.

PLATE IThe number
$4,333.70
Gold spot
−$14.50, −0.33%
$65.521Silver spot
$1,788.00Platinum spot
$1,272.00Palladium spot
Source Kitco bid, single tick stamped 06:02:56Z 22 September 2026 · change measured against this paper's 21 September marks
What changed

All four gave ground. Gold read $4,333.70 on the bid at press time, $14.50 below Monday's mark, with silver, platinum and palladium all lower on the session.

What it means · The Desk’s View

If you are pricing scrap: The day's range is $86.20, so the hour you quote matters more than the direction.

If you trade palladium: The $40 bid-ask spread costs more than the day's move.

What this is not: A trend. One session's distance from Monday's marks is all this reports.

The article3 sections · 98 words
Table I · Four metals against Monday's marksKitco bid, tick 06:02:56Z 22 September 2026 · prior marks from this paper's 21 September tape file
MetalMarkChangePer cent
Gold$4,333.70−$14.50−0.33%
Silver$65.521−$0.611−0.92%
Platinum$1,788.00−$7.00−0.39%
Palladium$1,272.00−$10.00−0.78%
Carat Capital's arithmetic every change is measured against this paper's own 21 September marks, looked up in that day's tape file, not taken from the board's own day-change field. Gold: 4,333.70 − 4,348.20 = −14.50, and 14.50 ÷ 4,348.20 = 0.3335%, printed as 0.33%. Bid, not mid all four are read on the bid, the basis this tape has carried since 31 August 2026. At the same tick the ask stood $4,335.70 on gold and $1,312.00 on palladium. The spread is the story on palladium $40.00 ÷ $1,272.00 = 3.1% of the bid, against $2.00 ÷ $4,333.70 = 0.05% on gold.

IAll four gave ground

Gold led in dollars. Gold read $4,333.70 on the bid, $14.50 below Monday's mark. The fall is 0.33%, the smallest of the four in percentage terms.

Silver fell hardest. Silver lost 0.92% to $65.521, the largest percentage fall of the four, against palladium's 0.78% and platinum's 0.39%.

IIPalladium's spread is wide

Forty dollars apart. Palladium's bid and ask stood $40.00 apart at the same tick, $1,272.00 against $1,312.00, where gold's spread was $2.00.

A thin book. A spread of 3.1% of the bid, against 0.05% on gold, is what a thinly quoted metal looks like on a live board.

IIIThe overnight range was wide

Eighty-six dollars. Gold's session ran from $4,290.70 to $4,376.90, a span of $86.20, or 2.0% of the low.

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

A move back through $4,348.20. The whole of this article is one session's distance from Monday's marks; a recovery to that level erases it.

02Why this paper prints the bid+

A live metals board quotes two numbers: the bid, what a dealer will pay, and the ask, what a dealer will sell at. The mid is the average of the two and is the number most widely republished, but nobody transacts at it. This tape has printed the bid since 31 August 2026 because it is the conservative mark for a seller, which is what most of this paper's readers are when they touch spot: a jeweller pricing scrap, a manufacturer hedging stock. The choice matters most where the two numbers sit far apart, which on this tick is palladium, quoted $40 wide against gold's $2.

03Method · the desk’s arithmetic+

The four marks here were read at press time on 22 September 2026 from the Kitco board's own embedded page data, parsed out of the raw bytes rather than from a rendered table, at a single tick the source stamps 06:02:56Z. They differ from the 05:00 ET tape filing, which read the same board at a 04:58:56Z tick, and under this paper's one-price rule the later verified reading was written back to the dated tape file and to its live file before this edition was built. The numbers printed here and the numbers the tape carries are therefore the same numbers, and the superseded 05:00 values are named in the tape's own notes. Prior marks are the 21 September file's own values, looked up rather than derived from any change field. The high and low quoted are the board's own session figures at that tick. Only Kitco is credited here because only Kitco was used for these four marks.

04Sources1 document
The Morning Brief · free

The trade, filed before the New York open.

Prices, tenders and the one story that moved the industry overnight. Ninety seconds.

Subscribe free →
Clarity, daily.