Gold rebounds from two-week low as dollar declines

Gold futures rose in American trade away from the lowest since October 6 as the dollar index lost ground, following a spate of data from China and the US, the world's largest economy, while President Donald Trump is scheduled to talk to Federal Reserve Chair Janet Yellen. 

As of 03:09 GMT, gold futures due on December 16 rose 0.47% to $1,289.00 an ounce from the opening of $1,283.00, while the dollar index shed 0.25% to 93.13 from the opening of 93.38. 

Earlier data from the China, the world's largest metals consumer, showed the seasonally adjusted reading for third quarter GDP with a 1.7% growth rate in line with expectations, down from 1.8% in the second quarter, while on a yearly basis, growth slowed down as well to 6.8% to 6.9%, as both retail sales and industrial production accelerated in September. 

Otherwise, earlier US data showed unemployment claims down to 222 thousand from 244 thousand, below expectations of 240K, while the Philly manufacturing index jumped to 27.9 in October from 23.8 in September, besting expectations of 21.9. 

On another note, North Korea threatened to attack the US if the military drills with South Korea continued, in turn buoying the gold as a safe haven, as Pyongyang accuses the US and North Korea of instigating war in the region.