Gold at US$4,480, Silver US$66.37 as Dollar Eases
Today’s Focus
Gold and silver rose on Thursday, September 3, 2026. The gold-tracking proxy settled at US$4,480 an ounce, up 2.16%, and the silver proxy at US$66.37, up 2.44%.
The rally was powered by a weaker dollar, easing Treasury yields and safe-haven buying, ahead of U.S. jobs data.
For Latin America, this matters directly: Mexico is the world’s top silver producer, and Peru is a major silver and gold miner. So stronger prices feed export revenues and mining shares.
What matters today. Precious metals rose on a softer dollar and lower yields, a tailwind for Mexico’s silver sector and Peru’s miners.
01 The session in one read
Gold and silver climbed on Thursday, September 3, 2026. The gold-tracking proxy settled at US$4,480 an ounce, up 2.16%, while the silver proxy ended at US$66.37 an ounce, up 2.44%.
A weaker U.S. dollar was the main engine, making metals cheaper for buyers using euros, pesos or soles. Easing Treasury yields added fuel, and safe-haven demand kept the complex bid.
The session’s gains look fundamentally supported but not yet confirmed by labour-market data. Gold and silver rose because the dollar weakened and Treasury yields, including inflation-adjusted yields, slipped, reducing the appeal of interest-bearing alternatives.
Safe-haven flows added momentum ahead of U.S. jobs figures. The variable to watch is whether the U.S. employment report validates the soft labour-market signals already priced in.
02 The board
The gold-tracking instrument closed at US$4,480 an ounce. That marked a 2.16% daily gain, one of the stronger sessions in the recent rebound.
Silver moved even more, with the silver-tracking proxy ending at US$66.37 an ounce, up 2.44%. Silver tends to swing more sharply than gold on shifts in the dollar and in factory demand, which amplified the move.
| Asset | Level | Change |
|---|---|---|
| Gold | US$4,480/oz | +2.16% |
| Silver | US$66.37/oz | +2.44% |
Source: RT close, 2026-09-03. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 205,430.33 | +0.54% | +21.85% | 204,324.26 | 168,310 | 167,142 | — |
| IPSA | 11,013.03 | +0.39% | — | 10,970.29 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 68,929.72 | +1.87% | +12.17% | 67,663.29 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,848,945 | -0.35% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,566.28 | -0.55% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,210.69 | -0.91% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
03 What moved it
The U.S. dollar weakened, which directly lifts metals priced in dollars. When the greenback falls, buyers using pesos or soles pay less for the same ounce of gold or silver.
Treasury yields eased, and inflation-adjusted yields also slipped. Because gold and silver pay no interest, lower real yields make them more attractive relative to bonds.
Safe-haven buying added a layer of support. Investors treated the metals complex as protection against geopolitical caution and softening U.S. labour-market signals.
04 The Latin American read
Mexico is the world’s top silver-producing country, and Peru is a major silver and gold miner. For both economies, Thursday’s rally translates into stronger export revenues when metals are sold abroad.
Higher silver and gold prices can support the currencies of Mexico and Peru, and lift shares of miners listed in those markets. The Latin American angle is not incidental; it is a direct channel from the dollar and yields to regional income.
05 The names to watch
Investors tracking LatAm precious metals exposure will watch major Mexican silver producers and Peruvian gold and silver miners. Their dollar-denominated revenues rise with the metals complex.
The rally is driven by the dollar and yields, not a single company event. So gains should flow broadly across Mexico’s silver sector and Peru’s mining names, not to one winner.
06 The outlook
The next catalyst is U.S. jobs data. A soft labour report would raise the case for a less aggressive Federal Reserve.
That would let the dollar weaken further, supporting gold and silver.
For Latin American producers, the question is whether gains persist long enough to affect quarterly exports and margins.
07 What to watch
- U.S. employment data: a soft payrolls print could extend the dollar’s decline, while a strong report might reverse the move.
- U.S. dollar index: a sustained move lower supports gold and silver, and any snapback in the dollar is the main downside risk.
- Treasury real yields: falling inflation-adjusted yields make non-yielding metals more attractive; a sharp rise in real yields would pressure prices.
- Mexico and Peru mining shares: the rally’s staying power will show up in Latin American mining equities and currency strength.
Frequently Asked Questions
Why did gold and silver rise on Thursday, September 3, 2026?
The dollar weakened and Treasury yields, including real yields, fell, making non-yielding metals more attractive. Safe-haven demand added further support.
What were the closing prices?
The gold-tracking proxy settled at US$4,480 an ounce, up 2.16%, and the silver-tracking proxy at US$66.37 an ounce, up 2.44%.
Which Latin American countries matter most for silver and gold?
Mexico is the world’s top silver producer, and Peru is a major silver and gold miner. Both stand to gain from higher prices.
What should investors watch next?
U.S. jobs data is the key variable, as it will shape expectations for Federal Reserve policy, the dollar and yields.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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