Gold and silver were heading sharply lower Wednesday morning, as weaker-than-expected reports on durable goods orders and personal spending — along with what was said to be the worst auction of 10-year German government bonds in recent memory — sent investors and traders running for safer havens.

Spot gold was some 0.92% lower around 10:20 a.m. Wednesday, while spot silver was down 3.72%. Spot gold was bid at $1,683.70 per ounce with an ask price of $1,684.70, having traded at a high of $1,696.60 and a low of $1,679.90. The London afternoon reference price fixing was set at $1,681, according to Kitco market data.

Spot silver was bid at $31.55 per ounce with an ask price of $31.65. The morning high as of time of writing was $31.95, and the low was $31.36. Monday’s reference price was set at $31.51 in the London a.m.

Gold trusts were down and the iShares Silver Trust (NYSE:SLV) was sharply lower in the run-up to the long Thanksgiving holiday weekend.

• The SPDR Gold Trust (NYSE:GLD) was around 0.9% lower.
• The iShares Gold Trust (NYSE:IAU) was nearly 1% lower.
• The iShares Silver Trust was showing losses of more than 3.7%.

Gold and silver mining ETFs were heading south as well.

• The Market Vectors Gold Miners ETF (NYSE:GDX) was down more than 3%.
• The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) was around 4.75% lower.
• The Global X Silver Miners ETF (NYSE:SIL) was more than 4.4% lower.

Shares of gold miners were showing large morning losses.

• Agnico-Eagle Mines (NYSE:AEM) was some 2.8% lower.
• Barrick Gold Corp. (NYSE:ABX) was between 2.75% and 2.9% lower.
• Goldcorp (NYSE:GG) was showing losses of around 3.75%.
• Newmont Mining Corp. (NYSE:NEM) was more than 2.1% lower.
• NovaGold Resources (AMEX:NG) was showing losses of almost 5% after surging higher recently.

Silver miners’ shares were getting pummeled.

• Coeur d’Alene Mines Corp. (NYSE:CDE) was between 4.5% and 4.8% lower.
• Hecla Mining (NYSE:HL) was down around 6.3%.
• Pan American Silver Corp. (NASDAQ:PAAS) was some 3% lower.
• Silver Wheaton Corp. (NYSE:SLW) was down around 4%.
• Silver Standard Resources Inc. (NASDAQ:SSRI) was down some 5.8%.

As of this writing, Andrew Burger did not hold a position in any of the aforementioned stocks.