Gold dropped again on Thursday, settling under $1,300 an ounce for the first time in six weeks. The metal retreated under pressure from stronger U.S. economic data, which boosted the U.S. dollar.

The Commerce Department revised fourth-quarter U.S. GDP growth upward from a prior estimate of 2.4%, to 2.6%, though the gain was almost entirely attributable to higher health care spending during the quarter. In a separate report, the Labor Department said that first-time unemployment benefit claims declined to a seasonally adjusted 311,000 last week. That was less than the 325,000 new claims economists had forecast.

Gold futures for April delivery fell 0.7% to $1,294.70 per ounce on Thursday, according to CME Group. Gold traded as high as $1,307.60 and as low as $1,291.20 Bullion closed in London at $1,294, according to BullionVault.

Silver futures for May delivery slipped 0.4% to settle at $19.71 per ounce. Thursday’s high for silver was $19.87, while the low was $19.58.

Metal funds faded on Thursday.

• The SPDR Gold Shares (GLD) sank 0.7%.
• The iShares Gold Trust (IAU) declined 0.6%.
• The iShares Silver Trust (SLV) dipped 0.2%.

Mining ETFs improved during the day.

• The Market Vectors Gold Miners ETF (GDX) rose 1.4%.
• The Market Vectors Junior Gold Miners ETF (GDXJ) gained 3.6%.
• The Global X Silver Miners ETF (SIL) added 1%.

Gold stocks mostly advanced on Thursday.

• Agnico-Eagle Mines (AEM) rose 1.9%.
• Barrick Gold (ABX) moved up 1.2%.
• Eldorado Gold (EGO) slipped 0.4%.
• Goldcorp (GG) gained 1.3%.
• Kinross Gold (KGC) dropped 4.5%.
• Newmont Mining (NEM) slid 0.6%.
• NovaGold Resources (NG) climbed 2.3%.
• Yamana Gold (AUY) increased 0.8%.

Silver mining shares gained during the day.

• Coeur d’Alene Mines (CDE) inched up 0.2%.
• Hecla Mining (HL) climbed 2.6%.
• Pan American Silver (PAAS) added 1.8%.
• Silver Wheaton (SLW) rose 1.6%.
• Silver Standard Resources (SSRI) increased 1.9%.

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.