Platinum gains ground as dollar slides

Platinum prices rose in American trade as the dollar index slid to near the lowest since June 23, 2016, following earlier data from the US,  the world's largest economy, and ahead of the final reading for the UoM consumer sentiment survey, and Federal Reserve Bank of Minneapolis President Neel Kashkari's speech in Minnesota. 

As of 02:03 GMT, platinum rose 0.56% to $930.13 an ounce from the opening of $924.98, while the dollar index fell 0.40% to 93.49 from the opening of 93.87. 

Earlier US data showed GDP growth at 2.6% in the second quarter, up from 1.4% in the first quarter, and besting expectations of 2.5%, while the preliminary reading for GDP prices slowed down to 1.0% from 1.9%, missing expectations of 1.3, and finally, the Employment Cost Index slowed down as well more than forecast.