Chris Mullen at GoldSeek wraps up Thursday's action...
Gold Prices hovered near unchanged in Thursday's Asian and London trade, before it shooting up to a new record high of $1681.74 per ounce by late morning in New York. Gold Prices then fell back off rather markedly midday New York time and ended with a loss of 0.43%.
The Gold Price in Euros climbed to a new all-time high above €1170.
Silver Prices rose to as high as $42.213 before they too fell back off in late trade and ended near their late session low of $39.16 with a loss of 5.35%.
Silver and Gold Mining stocks fell throughout most of trade and ended with about 6% losses.
Platinum lost $52.25 to $1724.50, and copper dropped another 9 cents to about $4.23.
Oil fell almost 6% to its lowest since February 18th on increased worries over falling energy demand in a slowing global economy.
The US Dollar jumped higher as the Yen fell over 2% after Japan intervened to curb its strength to support the country's export-led economy.
The Dollar extended gains against the Euro Thursday after European Central Bank President Jean-Claude Trichet took steps that implied he is more worried about the continent's sovereign-debt crisis spreading to larger economies and bond markets.
US Treasuries rose as the Dow, Nasdaq, and S&P fell about 5% more on lingering fears about debt and a possible recession.
Among the big names making news in the market Thursday were Southwest, Kraft, GM, Fidelity, Limited, and Macy's.
Friday at 8:30am EST brings July's jobs data. Nonfarm Payrolls are expected at 84,000, the Unemployment Rate is expected at 9.2%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.3. At 3pm is Consumer Credit for June expected at $5.0 billion.