Gold prices rose on Thursday as the American dollar weakened against its rival currencies. The American dollar traded near a week low in the previous session following the emergence of data indicating that U.S. service sector activity was at its lowest level in 19 months and the growth of payroll was less than expected, Reuters said.

Meanwhile, investors are paying close attention to the news about the progress of the US-China trade negotiations. News about any progress on the Sino-US trade negotiations tends to have an adverse effect on the U.S. dollar.

Spot gold traded at $1,292.16 per ounce, climbing up 0.2 percent. US futures traded at 1,296.80 an ounce, gaining 0.1 percent.

A weaker U.S. dollars usually gives a boost to the precious metal. On Thursday, the U.S. dollar traded at 96.620, down 0.1%, according to the U.S. Dollar Index.

Sources: Reuters, KITCO