The Metals:

Gold climbed up to $1768.16 by about 8AM EST before it fell back to $1757.40 in the next 45 minutes of trade, but it then chopped its way back higher into the close and ended with a loss of just 0.06%. Silver slipped to $33.691 in Asia, but it then rose to as high as $34.14 in New York and ended with a gain of 0.5%.

Euro gold fell to about €1367, platinum lost $19 to $1668, and copper remained at about $3.72.

Gold and silver equities saw almost 2% gains about an hour into trade, but they then drifted back lower in late morning trade and ended only slightly higher.

Gold Best of Biggest ETFs as Traders Seek Haven: Riskless Return Bloomberg

The Economy:

The Fed's Beige Book from September “said today that the U.S. economy was expanding “modestly” last month, supported by improvements in housing and auto sales, even as the labor market showed little change.”

Job Openings in U.S. Decreased 32,000 in August, Hiring Rose Bloomberg

Mortgage applications fell last week: MBA Reuters

Tomorrow at 8:30AM EST brings Export and Import Prices for September, Initial Jobless Claims for 10/06 expected at 370,000, and the Trade Balance for August expected at -$43.8 billion.

The Markets:

Charts Courtesy of http://finance.yahoo.com/

The U.S. dollar index ended slightly lower as the euro rose on hopes for a bailout deal for Spain.

Treasuries extended higher after today’s $21 billion 10-year note auction sold at a high yield of 1.70% with a bid to cover of 3.26.

Oil fell along with the Dow, Nasdaq, and S&P on worries about global economic growth after Alcoa said China’s slowing growth will cut global demand for aluminum.

Among the big names making news in the market today were Alcoa, Chevron, JPMorgan, Facebook, Microsoft, OCZ, Bain Capital, Nokia, Toyota, and EADS and BAE.

GATA Posts:

Are oil price benchmarks rigged just like LIBOR?

Steve Forbes: Gold can save us from disaster

Jeffrey Lewis: Silver prices, priceless rumors

The Statistics:

As of close of business: 10/09/2012

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: No change in Total Tonnes from yesterday’s data.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 205.45: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,920.18: No change from yesterday’s data.

The Miners:

AngloGold’s (AU), Gold Fields’ (GFI) and Harmony’s (HMY) offer to raise the wages of their lowest-paid workers, AuRico’s (AUQ) asset sale, Nevsun’s (NSU) exploration license, Kinross Gold’s (KGC) CFO departure, Paramount’s (PZG) resource estimate, Keegan’s (KGN) revised mineral resource estimate, Endeavour’s (EXK) resolved work stoppage, Great Panther’s (GPL) third quarter production results, and First Majestic’s (AG) third quarter production results were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

- Chris Mullen, Gold Seeker Report

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