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Gold prices rose on Thursday as the U.S. dollar pared early gains and equities plunged on Chinese trade data that stoked concerns about the health of the world's No.2 economy.

The dollar index, which measures the greenback against a basket of six major currencies, fell 0.1 percent to 97.879.

"Despite the FOMC minutes that were released overnight, gold prices didn't really move. This strongly suggests that gold prices at this juncture, of $1,250, have already digested the probability of a

rate hike around this year," said OCBC Bank analyst Barnabas Gan. Gan added that various headwinds to the global economy would buoy safe-haven demand for bullion, with the metal likely to

touch $1,300 by year-end.

Key factors for the U.S. dollar in the fourth quarter are the U.S. presidential election, any Federal Reserve decision on interest rates, the future of European Central Bank asset purchases, political

developments in Germany and Italy, and the U.K.’s autumn statement from the chancellor of the exchequer, says Brown Brothers Harriman. Analysts describe the U.S. election between Republican

Donald Trump and Democrat Hillary Clinton as the most important event for investors for the remainder of the year. A Trump presidency could mean U.S. commitment to organizations such as the

World Trade Organization and NATO may be questioned by other nations, and the risk of a trade war would escalate, BBH says. “In the most extreme example, if global economic integration were to

begin unwinding, we suspect the U.S. would be at an initial disadvantage, even though it relies less on exports than many other high-income economies,” BBH says. “The net international

investment debtor position suggests the U.S. dollar could come under pressure.

Reference: Reuters,Kitco