US GDP came in with another solid result, which is great news. The stimulus 'taper' looks set to continue and gold looks risky.
As cautioned the gold price dived by more than 1.5% overnight and stock markets reacted favourably.
"Gross domestic product grew at a 3.2 percent annual rate in the final three months of last year, the Commerce Department said on Thursday, in line with economists' expectations.
While that was a slowdown from the third-quarter's brisk 4.1 percent pace, it was a far stronger performance than had been anticipated earlier in the quarter and welcome news in light of some drag from October's partial government shutdown.
"The economy was firing on almost all cylinders as 2013 came to a close. For today, the sun is out and shining," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York.
Early in the quarter many economists were expecting a growth pace below 2 percent given that an inventory surge accounted for much of the increase in the July-September period.
Taking both quarters together, growth came in at a 3.7 percent pace, up sharply from 1.8 percent in the first six months of the year. It was the biggest half-year gain since the second half of 2003."