Gold traded mostly slightly higher in Asia before it began to fall off in London. The Gold Price then dropped to as low as $792.92 by late morning in New York, but it then rallied back higher in afternoon trade and ended with a loss of just 0.32%.
The Gold Price in Euros fell to about €556, platinum fell from its record high and lost $4 to $1512, palladium lost $3 to $353, and copper rose slightly to about $2.93.
Gold equities fell over 1% in the first hour of trade, but they then steadily climbed back higher for most of the rest of trade and ended mixed and near unchanged.
Friday brings Personal Income for November expected at 0.5%, Personal Spending expected at 0.7%, and Core PCE Inflation expected at 0.2%. At 10AM is the revised reading for December Michigan Sentiment expected at 74.5.
Oil fell slightly on economic concerns as Leading Indicators fell to a two year low and the Philadelphia Fed gave its lowest reading since April 2003.
The U.S. dollar index rose in technical trade despite mostly poor economic data that sent interest rates lower and treasuries higher.
The Dow and S&P ended slightly higher and the Nasdaq found impressive gains despite increased recession and credit worries as decent earnings reports drove select names higher.
Looking to Buy Gold today as a defense against central-bank bail outs,
the ongoing credit crunch, and rising inflation? For the tightest
prices at the lowest fees – plus secure offshore storage in
professional market-approved vaults for just 0.12% per year – visit BullionVault now...