Global stock markets rallied and the dollar strengthened on Thursday after a slew of data showed a strong U.S. economy that is decelerating with slowing inflation, giving credence to the Federal Reserve's desire to engineer a soft landing. Gross domestic product increased at a faster-than-expected 2.9% annual rate in the fourth quarter of last year as consumers boosted spending on goods, the U.S. Commerce Department said. Inflation data improved too, as personal consumption expenditures growth slowed to 2.1% year over year from 2.3% in the prior quarter while the GDP price index decelerated to 3.5%.
Yes, you can invest in actual gold or other precious metals for your IRA. See the special rules for gold IRAs and what to consider before investing.
Gold prices end lower on Thursday, posting their first decline in six sessions after a stronger-than-expected U.S. GDP report.