Gold and silver were lower Wednesday morning following a disappointing ADP report on employment and discouraging news on the eurozone economic and employment fronts.

Spot gold was down 0.55%, bid at $1,653 as of 10:48 a.m., having traded as high as $1,661 and as low as $1,644.70 an ounce, according to Kitco market data. The London afternoon reference price was set at $1,648, $16 an ounce lower than Tuesday’s afternoon reference price.

Spot silver was showing a 1.39% loss, bid at $30.54. The morning high as of time of writing was $30.82 and the low was $30.31. Wednesday’s reference price was set at $30.52 an ounce in the London a.m., 26 cents an ounce below Tuesday’s price fix.

Seasonally adjusted U.S. non-farm private business employment increased a less-than-expected 119,000 from March to April, according to the April 2012 ADP National Employment Report. Private service-sector employment increased 123,000 in April, after rising 158,000 in March. Employment in the private goods-producing sector declined 4,000 in April, while manufacturing employment declined by 5,000 jobs, the first loss since last September.

HSBC and Markit Economics’ April final China Purchasing Managers’ Index (PMI) rose to 49.3, up from an initial 49.1 reported on April 23 and March’s final 48.3 reading. China’s statistics bureau yesterday reported its April PMI for the Chinese economy, which it said registered 53.3, indicating the fastest growth in a year.

European markets reopened after a long May Day holiday — and the economic news isn’t good. The Markit Eurozone Manufacturing Purchasing Managers’ Index dropped to 45.9 in April from March’s 47.7. Particularly troubling were data from the eurozone core of France and Germany that showed manufacturers in both countries cutting back for a second consecutive month.

Adding to the deepening economic gloom was news that unemployment in the 17-nation eurozone rose another 0.1%, to a new high of 10.9% in April, according to a Eurostat report. That’s the 11th consecutive uptick in eurozone unemployment, and it means that more than 17 million are jobless. The news comes as national elections will take place in Greece and France this Sunday.

Gold bullion prices jumped to $1,658 an ounce following the disappointing ADP employment report, having dropped earlier in London morning trading Wednesday, BullionVault reported. BNP has cut its average gold price forecast for 2012 from $1,855 per ounce to $1,715 and its silver price forecast from $37.50 to $33.10, according to BullionVault.

Gold and silver trusts were headed lower in U.S. stock exchange trading.

The SPDR Gold Trust (NYSE:GLD) was down around 0.5%.
The iShares Gold Trust (NYSE:IAU) was down around 0.55%.
The iShares Silver Trust (NYSE:SLV) was down some 1.4%.

Gold and silver mining ETFs were heading south as well.

The Market Vectors Gold Miners ETF (NYSE:GDX) was showing losses of some 1.65%.
The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) was down around 0.8%.
The Global X Silver Miners ETF (NYSE:SIL) was down around 2.3%.

Gold mining shares also were negative.

Agnico-Eagle Mines (NYSE:AEM) was down around 0.7%.
Barrick Gold (NYSE:ABX) was down some 2.35%.
Eldorado Gold (NYSE:EGO) was down nearly 1.8%.
Goldcorp (NYSE:GG) was down around 1.5%.
Kinross Gold Corp. USA (NYSE:KGC) was around 2.1% lower.
Newmont Mining (NYSE:NEM) was around 2.25% lower.
NovaGold Resources (NYSEAMEX:NG) was some 2.5% lower.
Yamana Gold (USA) (NYSE:AUY) was down around 2.25%.

Silver mining shares were also higher, Pan American Silver the exception.

Coeur d’Alene Mines (NYSE:CDE) was nearly 3% lower.
Hecla Mining (NYSE:HL) was nearly 4% lower.
Pan American Silver (NASDAQ:PAAS) was showing losses of nearly 3%.
Silver Wheaton (NYSE:SLW) was down more than 1.8%.
Silver Standard Resources (NASDAQ:SSRI) was down nearly 3.6%.

As of this writing, Andrew Burger did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.