Gold futures turned higher Wednesday after weak U.S. retail sales data cooled speculation of an earlier-than-expected rate hike by the U.S. Federal Reserve.

Gold for December delivery rose $3.90, or 0.3%, to $1,314.50 an ounce. September silver rose 13 cents, or 0.7%, to $20.04 an ounce.

The Commerce Department said overall retail sales were virtually unchanged in July, while sales excluding autos rose 0.1%. Economists surveyed by MarketWatch had forecast an overall rise of 0.2% and an increase in sales excluding autos of 0.4%.

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