Gold rises as dollar drops

Gold prices rose on Friday, after Chinese data …. Hopes for economic recovery.

Chinese data showed a 4.6% rise in retail sales year-on-year (YoY) in August, exceeding forecasts of 3%. Industrial production grew by 4.5% YoY.

Gold futures for December edged up 0.33%, or $6.3, to $1.939 per ounce at 11:09 am Makkah Time.

Spot gold added 0.35% to $1,917.6 per ounce. Silver for December delivery jumped 1.5% to $23.35 per ounce. Spot platinum prices traded 0.69% higher at $91.22 per ounce.

The dollar index declined 0.18% to 105.2 points.