Gold fell to a six-week low in Thursday trading as investors digested news that the eurozone’s economy shrank more than forecast during the final quarter of 2012. Even more concerning was news that European powerhouses France and Germany saw their economies contract during the quarter.

Additionally, investor enthusiasm for the precious metal was cooled by a separate report from the World Gold Council indicating that demand for gold declined last year, its first annual drop in three years .

Gold futures for March delivery slipped 0.6% to $1,634.90 on Thursday, according to CME Group. Gold traded as high as $1,649.10 and as low as $1,632.40. Gold bullion closed in London at $1,637, according to BullionVault.

Silver futures for March delivery fell about 1.7% to $30.35 per ounce. Thursday’s high for silver was $31.06 an ounce, while the low was $30.21.

Gold and silver funds sank in Thursday trading.

• The SPDR Gold Trust (NYSE:GLD) slipped 0.5%.
• The iShares Gold Trust (NYSE:IAU) also fell 0.5%.
• The iShares Silver Trust (NYSE:SLV) dropped 1%.

Gold and silver mining ETFs also mostly slid during the day.

• The Market Vectors Gold Miners ETF (NYSE:GDX) gained 0.4%.
• The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) dipped 0.6%.
• The Global X Silver Miners ETF (NYSE:SIL) slipped declined 1.1%.

Gold mining shares were mixed on Thursday.

• Agnico-Eagle Mines (NYSE:AEM) fell 1%.
• Barrick Gold (NYSE:ABX) rose 2.6%.
• Eldorado Gold (NYSE:EGO) edged up 0.2%.
• Goldcorp (NYSE:GG) dipped 0.4%.
• Kinross Gold (NYSE:KGC) soared 5.6%.
• Newmont Mining (NYSE:NEM) sank 0.7%.
• NovaGold Resources (AMEX:NG) climbed 0.2%.
• Yamana Gold (NYSE:AUY) dropped 0.8%.

Silver mining shares were also mixed.

• Coeur d’Alene Mines (NYSE:CDE) surged 2.5%.
• Hecla Mining (NYSE:HL) rose 1.1%.
• Pan American Silver (NASDAQ:PAAS) edged up 0.6%.
• Silver Wheaton (NYSE:SLW) fell 0.7%.
• Silver Standard Resources (NASDAQ:SSRI) slid 0.4%.

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