Gold prices have played suffered losses early in the session after the released worse than expected data on retail sales have weakened the dollar.

For example, in U.S. retail sales in June fell by 0.5%, expected 0.2%.

Earlier, gold became cheaper amid fears of debt crisis and the growth of the eurozone government bond yields peripherals.

European Central Bank President Mario Draghi was made for the losses accruing to the bondholders most affected Spanish savings banks, the newspaper reported Wall Street Journal. However, the finance ministers of the eurozone declined his offer, fearing a negative reaction of financial markets, the article says. The ECB declined to comment on the report.

August gold futures on the COMEX today rose to 1593.8 dollars per ounce after falling to the level of 1577.2 dollars per ounce.