KONTAN.CO.ID - SINGAPORE. Gold prices gained on Friday as the dollar eased against the yuan after promising China economic data boosted recovery hopes in the world's top bullion consumer, although the possibility of further U.S. interest rate hikes kept investors on edge. Spot gold rose 0.3% to $1,915.27 per ounce by 0537 GMT, while U.S. gold futures were up 0.2% at $1,936.90. The yuan hit two-week highs against the dollar after data showed China factory output and retail sales in August beat forecasts. A softer dollar makes greenback-priced bullion more attractive for overseas buyers.
Gold Rises After China Data Boosts Yuan Against Dollar
KONTAN.CO.ID - SINGAPORE. Gold prices gained on Friday as the dollar eased against the yuan after promising China economic data boosted recovery hopes in the world's top bullion consumer, although the possibility of further U.S. interest rate hikes kept investors on edge. Spot gold rose 0.3% to $1,915.27 per ounce by 0537 GMT, while U.S. gold futures were up 0.2% at $1,936.90. The yuan hit two-week highs against the dollar after data showed China factory output and retail sales in August beat forecasts. A softer dollar makes greenback-priced bullion more attractive for overseas buyers.