Gold retreated in Thursday trading after two economic reports painted a somewhat improved picture of the U.S. economy.

The Labor Department reported that first-time claims for unemployment benefits declined by 12,000 last week, and the Commerce Department said that retail sales climbed 0.6% in May, topping economists’ forecast of a 0.4% gain. The news sent equities markets higher, though the U.S. dollar continued to stall against the yen.

Gold futures for July delivery dropped 1% to $1,377.90 per ounce on Thursday, according to CME Group. Gold traded as high as $1,393.60 and as low as $1,373.50. Gold bullion closed in London at $1,387, according to BullionVault.

Silver futures for July delivery also sank 1% to $21.58 per ounce. Thursday’s high for silver was $21.91 while the low was $21.50.

Gold and silver funds were mostly lower in Thursday trading.

• The SPDR Gold Trust (GLD) dipped 0.4%.
• The iShares Gold Trust (IAU) also slid 04%.
• The iShares Silver Trust (SLV) edged up 0.1%.

Gold and silver mining ETFs advanced during the day.

• The Market Vectors Gold Miners ETF (GDX) climbed 1%.
• The Market Vectors Junior Gold Miners ETF (GDXJ) gained 0.4%.
• The Global X Silver Miners ETF (SIL) jumped 1.8%.

Gold mining shares mostly improved on Thursday.

• Agnico-Eagle Mines (AEM) rose 0.7%.
• Barrick Gold (ABX) inched up 0.2%.
• Eldorado Gold (EGO) gained 1.1%.
• Goldcorp (GG) increased 1.6%.
• Kinross Gold (KGC) jumped 2.2%.
• Newmont Mining (NEM) added 1%.
• NovaGold Resources (NG) surged 4.7%.
• Yamana Gold (AUY) climbed 1.1%.

Silver mining shares moved higher during the day.

• Coeur d’Alene Mines (CDE) rose 1.7%.
• Hecla Mining (HL) increased 0.9%.
• Pan American Silver (PAAS) gained 1.6%.
• Silver Wheaton (SLW) edged up 0.2%.
• Silver Standard Resources (SSRI) surged 3.2%.

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.