Looking toward next week, market watchers said Chinese data will help to set the tone early.
Australian stocks, which were flat in early trading, drifted higher after the Chinese data was released.
Stocks of Australian mining and metals companies, reliant on Chinese demand, extended early losses after the Chinese data.
Asian bourses were broadly higher on the back of Tuesday's U.S. gains and positive Chinese data released Wednesday.
The Chinese data prompted selling in industrial base metals, and this spilled over into the precious complex, Meger said.
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Besides the Chinese data, gold and other commodities also are drawing support from a softer U.S. dollar, said Bob Haberkorn, senior commodities broker with R.
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In overnight trading, U.S. stocks rose in part of the strength of Chinese data on industrial production, which increased by 13.3% in May from a year earlier.
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Fitch says the resulting growth of broad credit, which includes credit from shadow and offshore sources, was a factor in the recent improvement in Chinese data.
The Indian firms see consulting work as a way to maintain their competitive edge in the face of wage inflation in India and the rise of Chinese data processing firms.
European markets traded broadly higher, with the Stoxx Europe 600 up 0.6% and on track to close at a near five-year high, amid the U.S. labor-market reading and encouraging Chinese data.
Markets across Asia slumped on the disappointing Chinese data.
"The market was looking for an excuse to pull back, and they certainly got it with the Fed comments" and Chinese data, said Peter Cardillo, chief market economist at Rockwell Global Capital.
In Asia, stocks across the region climbed after Chinese data showed the economy expanded 7.9% in the fourth quarter from a year earlier, fueling optimism that the worst may be over for the world's No. 2 economy.
Several Chinese economic data releases are slated for the week, starting Saturday, with NBS Manufacturing PMI.
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Gold has also benefitted from some improvement in Chinese economic data this week, Bhar added.
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Asian traders are awaiting a fresh batch of Chinese economic data due out next weekend.
The gold and silver markets showed little reaction to some fresh, upbeat Chinese economic data released Friday.
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Further, soft Chinese economic data overnight also undermined gold, said Carlos Sanchez, director of risk management with CPM Group.
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The Chinese economic data Thursday looks to be the most important data of the week for the market place.
Chinese activity data improved across the board in September, pointing to stabilizing growth in the second quarter of 2012.
Chinese manufacturing data for March showed a preliminary PMI reading of 51.7 versus the final reading of 50.4 in February.
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One of the largest investment banks in the world says it sees signs of a recovery in Chinese economic data.
Traders and investors worldwide will closely scrutinize a fresh batch of Chinese economic data due for release over the weekend.
Asian traders are awaiting a fresh batch of Chinese economic data due out later this week and during the upcoming weekend.
The market place is looking forward to Monday, when a fresh batch of Chinese economic data is due to be released.
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Commerzbank analysts said copper struggled to gain on the recent positive Chinese economic data over into the new week of trading.
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The weaker-than-expected Chinese GDP data also threw another scare into the commodity markets, which spilled over into the precious metals markets.
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As can be seen from the Chinese telecom data released each month, the carriers are now adding more 3G subscribers than 2G.
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