Gold stages mild rebound in Asia
On Friday, gold rebounded moderately in Asia, as market participants squared positions ahead of next week's two-day Fed gathering mostly expected to keep interest rates intact.
In New York, December delivery gold futures ascended 0.14%, trading at $1,319.90 per troy ounce.
Overnight, gold prices went down to fresh two-week minimums during North America's trading session on Thursday, as market participants digested the release of a host of American economic data.
Data issued earlier demonstrated that retail sales in America sagged for the first time for five months, thus driving concerns over the economic outlook.
The Commerce Department informed that retail sales dipped 0.3% from the previous month, compared to the forecast for a descend of about 0.1%. Additionally, in August, core retail sales, excluding automobile sales, suddenly went down by a seasonally adjusted 0.1%, compared to forecasts for a leap of 0.2%.
A separate report issued at the same time demonstrated that wholesale prices stood flat in August, because of steep drops in the cost of gasoline and food.