Spot gold was down from its peak of $1,833.60 but up from the opening price of $1,820 Wednesday morning amid reports that August retail sales were unchanged from a weak July and the August producer price index came in higher than the decline expected by economists. Continuing to take center stage was the euro zone’s sovereign debt crisis.

Spot gold was trading at $1,824.80 Bid, $1,825.80 Ask, down 0.5% Wednesday morning, with the London p.m. gold price fixed at $1,818.50. Spot silver was down 1.02%, bid at $40.71 with an ask price of $40.81. Spot silver’s price was set at $41.23 at the London a.m. price fix, according to Kitco market data.

August retail sales were unchanged in August, against a consensus among economists for a gain of 0.2%. July business inventories rose 0.4%, a bit less than the 0.5% economists’ expected. The August PPI was unchanged after a 0.2% July increase, the Labor Department reported. Economists had expected a 0.1% decline.

With Greek credit default swap and Italian five-year government bond rates at record highs, Moody’s said it was cutting the credit rating of Credit Agricole and Societe Generale, two of France’s largest banking groups. Their exposure to Greek government debt was cited as a primary factor in the ratings downgrade.

Looking at exchange trading, gold and silver trusts were moving lower.

• The SPDR Gold Trust (NYSE:GLD) was around 0.6% lower.
• The iShares Gold Trust (NYSE:IAU) was 0.65% lower.
• The iShares Silver Trust (NYSE:SLV) was down 0.45%.

Gold and silver miners ETFs were moving lower for a third consecutive morning.

• The Market Vectors Gold Miners ETF (NYSE:GDX) was 1.75% lower.
• The Market Vector Junior Gold Miners ETF (NYSE:GDXJ) was down 2.35%.
• The Global X Silver Miners ETF (NYSE:SIL) was around 1.8% lower.

Shares of gold miners were broadly lower, with Goldcorp showing sharp morning losses for the second day running.

• Agnico Eagle Mines (USA) (NYSE:AEM) was about 1.2% lower.
• Barrick Gold Corp. (NYSE:ABX) was down nearly 1.6%.
• Goldcorp (NYSE:GG) was showing losses of 2.25%.
• Newmont Mining Corp. (NYSE:NEM) was around 1.3% lower.
• NovaGold Resources (USA) (AMEX:NG) was unchanged.

Silver mining shares were moving sharply lower for a third consecutive morning Wednesday.

• Coeur D’Alene Mines Corp. (NYSE:CDE) was around 3% lower.
• Hecla Mining (NYSE:HL) was down around 2.9%.
• Pan American Silver Corp. (USA) (NASDAQ:PAAS) was around 2.1% lower.
• Silver Wheaton Corp. (USA) (NYSE:SLW) was 2.65% lower.
• Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) was down around 2.7%.

The author does not hold positions in any of the above-mentioned investments.