Platinum settles higher as dollar declines

Platinum futures tilted higher as the dollar index declined for the first time in four sessions, following earlier data from the US, the world's biggest economy, and China, the world's largest metals consumer. 

As of 02:48 GMT, platinum rose 0.10% to $982.95 an ounce from the opening of $981.92, while the dollar index declined 0.17% to 92.37 from the opening of 92.52. 

Earlier Chinese data showed industrial production slowed down to 6.0% y/y in August from 6.6%, while analysts expected a 6.6% growth rate, as fixed-asset investments slowed down as well to 7.8% from 8.3%, missing forecasts of 8.2%, and finally, retail sales slowed down to 10.1% from 10.4%, also missing expectations of 10.5%. 

Otherwise, earlier US data showed consumer prices accelerated to 0.4% from 0.2% in July, besting expectations of 0.3%, while core prices also accelerated to 0.4% from 0.1%, passing forecasts of 0.3%. 

On a yearly basis, consumer prices rallied to 1.9% from 1.7% in July, surpassing forecasts of 1.8%, as core prices steadied at 1.7%, still above forecasts of 1.6%.

Unemployment claims for the week ending September 9 fell to 284 thousand from 298K in the previous reading, below expectations of 300K.