Gold advances for third consecutive session

Gold prices rose nearly one percent for the third session in a row, moving farther away from a one-month trough hit earlier this week, while the dollar gave up ground, following earlier data from the world's largest economy. 

As of 03:13 GMT, gold futures due on August 16 rose 0.64% to $1,257.40 an ounce from the opening of $1,249.40, while the dollar index shed 0.27% to 97.33 from the opening of 97.60. 

Earlier US data showed the preliminary readings for both manufacturing and services PMI down in June, while new home sales rose past expectations in May. 

Markets now await Federal Open Market Committee member Jerome Powell's speech later today, titled "Central Clearing and Liquidity" at the Federal Reserve Bank of Chicago Symposium on Central Clearing