In the first week of September, the gold price trend extended gains, up nearly 4.05%. Spot gold hit a new record at $3,600 and closed at $3,586/oz. The rally was fueled by weak U.S. jobs data, stronger expectations for a September 17 Fed rate cut, and Egypt’s decision to exempt imported bullion from tariffs. Silver prices fluctuated between $39.67–$41.46/oz, ending at $40.97. Safe-haven flows were also supported by central-bank buying, ETF inflows, U.S. debt concerns, and stagflation risks. This weekly gold prices analysis shows continued support from USD weakness and geopolitical tensions.