September 1, 2026
Welcome back to the Star Refining Market News page. We research and interpret the market continuously, and it's our pleasure to share what we're seeing — as always, experts' views vary widely, so we recommend not relying too heavily on any single prediction.
At Star Refining, clients often ask whether now is a good time to refine or whether they should hold out for a better price. It's a fair question, and one worth thinking through. Factoring in lead times for shipping and processing, it often makes sense to have us process your material and hold it unpriced until you're ready to call the market — giving you the flexibility to act when the moment is right.
Where Has Gold Been in 2026?
In January, gold hit $5,589 per ounce — its peak for the year. Between February and May it declined steadily, falling below $4,000 at times as rising rate expectations and a stronger dollar weighed on the market. Since June we've seen a meaningful recovery, with gold climbing from around $4,200 back toward $4,700 through August.
So What Is Happening Today?
Gold is at its lowest point in two weeks, which begs the question — is this simply traders taking profits, or something more significant? According to Kitco News, prices have been weighed down by a combination of hawkish Federal Reserve sentiment and an oil-driven spike in bond yields, following Fed Chair Kevin Warsh's speech at Jackson Hole, Wyoming last week.
The golden question, as always, is where it goes from here.
"While Fed hawkishness could push gold toward $4,200 by year-end, I still see $5,350 by Q3 2027."
— Bart Melek, Head of Commodity Research, TD Securities · Kitco News, August 31, 2026
Kevin Smith of Crescat Capital made the more dramatic call that gold is heading to $20,000, arguing the Fed is "powerless" to fight inflation. Views in the market are wide — which is why we always recommend forming your own view rather than relying on any single forecast.
Our opinion: Traders are taking profits, buyers are taking advantage of the dip, and with US government debt now above $40 trillion the structural case for gold remains strong. The current pullback looks short-term to us — but as always, we recommend not relying too heavily on any single forecast, including ours.
Silver
Silver is down alongside gold today at $64.67/oz. Despite the dip, Heraeus reported this week that gold and silver are both seeing renewed ETF demand — a sign that institutional money continues to view current levels as attractive entry points.
Platinum and Palladium
Both industrial metals are under pressure today — platinum at $1,762 (-1.51%) and palladium at $1,303 (-2.91%). These metals are more sensitive to industrial demand and automotive-sector conditions than to the Fed debate driving gold and silver.
What This Means for You
If you've been holding jewelry or dental scrap, a pullback like this is often a good moment to get your material refined and ready — so you can price it the moment you're comfortable with the market. At Star Refining you deal directly with the refinery, which means better rates, faster settlement, free shipping and insurance (terms and conditions apply), and full transparency.
Sources: Kitco News live spot prices, September 1, 2026; Kitco News — "Gold price hits two-week low as Warsh repricing, oil shock lift yields," September 1, 2026; Kitco News — "Fed's hawkishness will drive gold price toward $4,200/oz this year, but $5,350 by Q3 2027 still in play," Bart Melek, TD Securities, August 31, 2026; Kitco News — "Gold price is going to $20,000," Kevin Smith, Crescat Capital, August 31, 2026; Kitco News — "Gold and silver see renewed ETF demand," Heraeus, August 31, 2026; Kitco News — "Gold's renewed momentum is sending a warning about America's $40 trillion debt," August 28, 2026