Gold advances nearly 1% in American trade

Gold futures rose for the second straight session, shrugging off the dollar's modest advance, following earlier data from the US, the world's largest economy. 

As of 03:28 GMT, gold futures due on December 16 rose 0.90% to $1,294.50 an ounce from the opening of $1,282.90, while the dollar index rose 0.10% to 93.64 from the opening of 93.54. 

Earlier US data showed unemployment claims fell past expectations, while the Philly manufacturing index slowed down in August to 18.9 from 19.5, besting expectations of 18.3, and finally, industrial production slowed down more than expected last month, as the Capacity Utilization Rate steadied in line with expectations. 

Yesterday, US president Trump dissolved several business and manufacturing advisory counsels, forcing back business concerns about Trump's direction, while the Federal Reserve's minute for the July 25-26 meeting showed policymakers' concerns about the recent softening inflation, despite asserting earlier this year on the plan to normalize the bank's massive balance sheet.