Gold Rises 3% to $4,048 an Ounce as Precious Metals Rally

Spot gold climbed 3% to $4,048 an ounce on Wednesday, Nov. 4, as silver, palladium and platinum also gained.

Silver rose 4.4% to $52 an ounce. Its percentage gain exceeded gold's by 1.4 percentage points in the same intraday snapshot. The dollar figures are spot prices per ounce; the percentages describe each metal's gain during the session.

Palladium posted the largest percentage increase in the group, rising 5.44%. Platinum gained 3.3%. Gold's 3% move was the smallest of the four by percentage, although its quoted price per ounce was higher than silver's.

All four metals were higher in the Nov. 4 snapshot, with palladium leading the group and silver posting the second-largest percentage gain. Spot prices refer to metal available for immediate delivery. The figures are intraday observations rather than closing prices.