Gold, silver stocks and ETFs jumped after data showed U.S. economic growth slowed more than expected in the fourth quarter, while inflation rose more than economists' estimates in December.

ProShares Ultra Silver rose 9%; Fortuna Silver Mines and Hycroft Mining rose 7%; First Majestic Silver rose 5%; Anglogold Ashanti, iShares Silver Trust, and Endeavour Silver rose 4%; Pan American Silver and Hecla Mining rose 3%; ProShares Ultra Gold and Harmony Gold Mining rose 2%.

The Commerce Department's report showed U.S. GDP increased at a 1.4% annualized rate last quarter after accelerating at a 4.4% pace in the July-September quarter. Economists polled by Reuters were forecasting GDP to grow at a 3% rate.

Separately, Personal Consumption Expenditure index, the Federal Reserve's preferred inflation gauge, rose 0.4% in December, on a month-over-month basis, compared to economists' estimate of a 0.3% rise. Core PCE, which excludes the volatile food and energy components, rose 0.4% on a month-over-month basis, versus economists' forecast for a 0.3% rise.