Gold lower on Chinese data

On Friday, gold was traded lower and likely to witness the second weekly decrease, as optimistic data from China damped speculation about further stimulus, undermining demand for the precious metal. On the NYMEX, December delivery futures for gold declined by 0.6% and reached $1,734.70 per troy ounce at 7:47 a.m. New York time. Earlier, it hit a session low of $1,733.85.