Spot gold traded at $4,366.00 per ounce as of 10:12 a.m. New York time on September 1, down $81.10, or 1.82 percent, on the day, according to Kitco pricing data. The session's range spanned from $4,325.50 to $4,462.40 an ounce, a swing of more than $135 in a single trading day.

Purity based valuations show how the price move ripples across different gold products. One troy ounce of 24 karat gold, the standard for investment grade bullion at 99.99 percent purity, was worth $4,366.00 at the day's bid. Twenty two karat gold, at 91.67 percent purity, priced out at $4,002.31 an ounce, while 18 karat gold stood at $3,274.50 and 14 karat gold, common in jewelry manufacturing, was worth $2,546.69.

Gold and silver often move together, since both metals respond to the same set of macroeconomic pressures, including interest rate expectations, the strength of the US dollar and demand for safe haven assets during periods of uncertainty. Gold's pullback this session mirrors a broader retreat across precious metals markets as investors weigh the likelihood of tighter monetary policy in the months ahead.

Even with the daily decline, gold remains a core holding for institutional and retail investors alike. Exchange traded funds and physical bullion are both widely used to gain exposure to the metal's price, alongside jewelry and industrial demand that continues to anchor long-term consumption of the metal.

Source: Kitco - https://www.kitco.com/charts/gold