AGE Daily Gold Update

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

1/3/2025: Gold slips on ISM, yields

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold slipped 0.5% to close at $2,645 as solid ISM factory data boosted Treasury yields and risk appetite, pressuring alternative assets. Bullion still finished the holiday-shortened week with a rise of 1.1%. Silver slid 0.6% to finish at $29.81, holding onto a weekly gain of 0.5%.

The ISM purchasing managers index for manufacturing rose to 49.3 in December, the highest level in nine months and just a whisper under the threshold of 50 signifying expansion. Production and new orders both rebounded more than forecast, fueling optimism that the years-long slump in US factories might be coming to an end.

All three major US stock indexes rose sharply, boosted by the upbeat ISM data and hopes for a business-friendly Trump administration. Tech shares led the way, lifting the Nasdaq 1.7% while the S&P 500 added 1.3% and the Dow 0.8%.

Benchmark 10-year Treasury yields pushed up to 4.6% as investors shifted away from safe-haven assets. Higher yields weigh on gold by increasing the opportunity cost for holding it instead of bonds for safety.

Platinum jumped 3.5% for a weekly rise of 1.7%. Palladium picked up 2.9% today and 0.8% this week.

At the New York spot close: gold slipped $13.90 to $2,645; silver shed 18 cents to $29.81; platinum rallied $31.85 to $940.75; and palladium advanced $26.80 to $932 an ounce.