Silver leads the reopen at $58.05, gold adds 0.29%
The first session since Friday has gold at $4,053.30, up $11.60, and silver at $58.05, up 1.06%. Platinum is $1,647.00. The ADP report lands midweek and payrolls on Friday.
By The Bullion Desk
What changed
Metals reopened higher and silver did the work. At 6:01am New York time on Monday, Kitco's spot page had gold bid at $4,053.30 an ounce, up $11.60 or 0.29% against Friday's 5pm close of $4,041.70, having traded a session range of $4,045.80 to $4,083.50.
What it means
- Quote off the settlement, not off the screen, and this edition's tape is the exception that proves it. A 0.29% gain in an Asian and European session before New York has opened is not a price discovery event, it is a placeholder until Friday, and a jeweller who repriced a window on it would be repricing again by the weekend.
- The number worth writing down is Friday's payroll print, which will either break a range that has held for six weeks or extend it. Everything between now and then is noise with a decimal point.
Key figures
| gold, +0.29% | $4,053.30 |
|---|---|
| silver, +1.06% | $58.05 |
| platinum, +0.18% | $1,647.00 |
| gold to silver ratio | 69.8 |
Source: The tape · 3 August, 6:01am New York
Higher, and silver did the work
This tape prints that live quotation rather than a settlement because Friday's close has now been carried through two editions, and a third day of unchanged would report a stillness the market no longer has.
Silver is the mover. It bid $58.05, up 61.1 cents or 1.06%, on a range of $57.68 to $58.76, which is the largest percentage gain of the four metals and takes the gold to silver ratio to about 69.8 ounces. Platinum bid $1,647.00, up $3.00 or 0.18%, on a range of $1,641.00 to $1,676.00.
Palladium bid $1,259.00, up $3.00, on a range of $1,257.00 to $1,322.00. All four are higher, none by much, and the two wide intraday ranges in platinum and palladium say more about thin holiday liquidity than about conviction.
Change against Friday's 5pm close, in percent
Source: The tape · 3 August, 6:01am New York
Two wide ranges, thin liquidity
The week is built around labour data. The ADP employment report lands midweek and the Bureau of Labor Statistics releases non-farm payrolls on Friday, the first complete read on American hiring since the Federal Reserve held rates on July 29 with three dissents.
Gold traded above $4,100 on that decision and gave the move back within two sessions as the dollar recovered, which is a fair description of how little either side of this market currently believes.
| Figure | |
|---|---|
| Silver | +1.06% |
| Gold | +0.29% |
| Palladium | +0.24% |
| Platinum | +0.18% |
Kitco spot bids at 6:01am New York, 3 August 2026, against the 31 July close. Carat Capital graphics desk.
The bench number barely moved
At the bench the working figure has barely moved. Gold at $4,053.30 an ounce is about $130.32 a gram of fine metal before refining, alloy, loss and making charge, against $129.95 on Friday's close.
Silver above $58 matters more for the sterling and alternative-metals side of a case, where a dollar an ounce on the raw material is a real percentage of a finished item's cost in a way it never is on a gold chain.
July closed with gold up about half a percent, its first higher month since February, and the white metals lower across the same month.
The story so far
Go deeper
Method
Kitco spot bids at 6:01am New York, 3 August 2026, against the 31 July close.