Gold gains ground as dollar slips in American trade

Gold futures tilted higher near a nine-month peak, as the dollar index lost ground, following earlier data from the US, the world's biggest economy, and as investors await housing data later today and the Jackson Hole Symposium tomorrow. 

As of 02:59 GMT, gold futures due on December 16 rose 0.20% to $1,293.60 an ounce from the opening of $1,291.00, while the dollar index shed 0.18% to 93.37 from the opening of 93.55. 

Earlier US data showed the manufacturing PMI slowed down unexpectedly, while services PMI widened more than expected according to preliminary readings for August, while markets await new home sales data, expected to have risen to 611 thousand last month from 610 thousand in June. 

Now markets await the Jackson Hole Symposium later this week.. the Economic Symposium, held in Jackson Hole, Wyoming, is attended by central bankers, finance ministers, academics, and financial market participants from around the world. The meetings are closed to the press but officials usually talk with reporters throughout the day.

Comments and speeches from central bankers and other influential officials can create significant market volatility, especially from major global figures such as Fed Chair Janet Yellen and governors of central banks in Japan, England, and Europe.