From Chris Mullen at GoldSeek.com...
Spot Gold fell more than $6 per ounce to $813.72 by midday in London on Tuesday, before it rebounded in New York to reach $830.70 by 10:15 EST.
The Gold Price then fell back off into the close and ended near unchanged for the day.
Silver dropped as much as $0.30 to $10.42 around 09:00 EST, before it rebounded to see a gain of $0.115 at $10.835 by late morning in New York, but it also fell back off in the last couple hours of trade and ended with a loss of 0.56%.
The Gold Price in Euros rose to €622 on weakness in the single currency, while platinum lost $23.50 to $937 and copper gained over 5 cents to about $1.53.
Gold Mining and silver equities rose over 3% in the first half hour of trade before they chopped slightly lower for most of the rest of the day, but they then rallied back higher in late trade and ended with about 2.5% gains.
Oil rose on rumors of more Opec output cuts to come, after Saudi Arabia announced it will exceed the already-agreed reductions.
The US Dollar index rose, Treasuries remained near unchanged while the Dow, Nasdaq, and S&P traded mixed.
The US trade deficit came in much smaller than forecast for Nov. at $40.4bn, but the Treasury deficit beat expectations at $83.6bn.
Federal Reserve chairman Ben Bernanke said in a speech that Obama's fiscal stimulus may not be enough to revive the economy, adding that the government should buy or guarantee the banks' "toxic" assets as well.
"Fiscal actions are unlikely to promote a lasting recovery unless they are accompanied by strong measures to further stabilize and strengthen the financial system," Bernanke said in a speech to the London School of Economics.
"More capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets."
So far in fiscal 2009 – starting just three months ago – the federal government has run up a record deficit of $485.2bn, the Treasury said Tuesday.
Wednesday at 13:30 GMT brings Import and Export Prices for Dec., plus Retail Sales for Dec. – expected down 1.2%.
US Business Inventories for Nov. then follows, plus the release of the Fed’s Beige Book of analysis at 19:00 GMT.