Gold gains as dollar slips -

Gold recovered from three-week lows on Friday aided by the dollar's retreat after better-than-expected Chinese data and a stronger euro, while traders focussed on the Federal Reserve's guidance on interest rates next week, reports Reuters.
Spot gold was up 0.4 per cent at $1,917.60 per ounce by 1220 GMT, after hitting its lowest since Aug. 23 in the previous session. US gold futures gained 0.4 per cent to $1,940. "We are seeing a consolidation in the euro and the slightly-recovering yuan against the U.S. dollar. This is positive for gold, which is strongly holding above $1,900 per ounce," said Carlo Alberto De Casa, analyst at Kinesis Money.
"Gold holding above the $1,900-level is positive news as it shows the resilience and investor interest in bullion," he added.
The dollar slipped 0.1 per cent against its rivals after hitting a six-month peak on Thursday, making gold less expensive for other currency holders.
Positive Chinese data supported other precious metals, with silver rising 2.2 per cent to $23.13 per ounce, platinum gaining 1.1 per cent to $916.29 and palladium up 1 per cent at $1,263.57. All three metals are heading for weekly gains.