From Chris Mullen at GoldSeek.com...
Gold Prices rose as high as $799.40 in Asia on Thursday before falling as low as $784 by midmorning in New York.
The Gold Market then rallied back higher into the close, ending with a loss of just 0.19% for the day.
Silver rose to over $14.50 in Asia before it dropped to as low as $13.90 per ounce. It then rallied to end with a loss of 0.97%.
Gold Priced in Euros fell back under €547, platinum gained $3 to $1444, palladium remained unchanged at $369, and copper fell over 10 cents to about $3.41.
Gold and silver mining equities fell over 3% in the first half hour of US trade before they rebounded with the metals to see only about 1% losses by early afternoon. But gold and silver equities then fell back off with the major stock indices in the last few hours of trade and ended with roughly 3% losses.
Crude oil fell from new record highs above $96 per barrel, but it bounced off its early lows in the US session to end with a loss of only about 1%.
The US Dollar index rebounded slightly from Wednesday's new all-time lows on the idea that the Fed may not continue to cut interest rates after this week's drop to 4.50%.
Treasury bonds rose back markedly from Wednesday’s deep losses on worries over the credit market and further banking write-downs to come. Those concerns also sent the Dow, Nasdaq, and S&P more than 2% lower.
On the economic front, Personal US Income for Sept. repeated Aug.'s growth at 0.4%, but Personal Spending dipped from 0.5% to 0.3%. The Core PCE Inflation measure rose 0.2%.
Initial jobless claims for last week came in below expectations, but the ISM confidence index also slipped, coming in below forecast and dropping from a reading of 52.0 in Sept. to 50.9 for Oct.
Friday at 12:30 GMT brings Oct.'s jobs data, with Non-farm Payrolls expected at 80,000, the Unemployment Rate at 4.7%, Hourly Earnings up 0.3%, and the Average Workweek expected at 33.8 hours. Factory Orders for Sept. then follows, forecast to show a -0.4% drop.