Gold prices gained momentum, from weak Chinese growth data for the second quarter, in Asian trade Thursday after dropped overnight on profit taking.

Gold for immediate delivery was seen trading at $1212.67 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1212.76 an ounce.

However, the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust said holdings stood at 1,314.819 metric tons as of Wednesday, unchanged for the second day in a row.

The holdings managed to rise earlier this week, reversing a downtrend from a record 1,320.436 metric tons marked in late June.

Silver for immediate delivery added 0.4 percent to $18.3750 an ounce, platinum increased 0.2 percent to $1,527.50 an ounce and palladium was up 0.3 percent at $467.50.

Analysts said China's growth data for the second quarter was slightly weaker than expected, helping revive the precious metal's allure as a hedge at a time of economic uncertainty.

Gold rose to a one-week high of $1,217.85 an ounce on Wednesday. But it later succumbed to profit-taking as the euro and the U.S. equity markets fell, responding to lessening investor interest in taking on risk after a downbeat assessment of the U.S. economic recovery by the Federal Reserve.

U.S. central bankers lowered their central tendency forecast for growth this year to a range of 3 to 3.5 percent, versus 3.2 to 3.7 percent in April.

The precious yellow metal strengthened 10 percent this year, reaching an all- time high of $1,265.30 last month, on concern that Europe's financial turmoil will spread, clouding the outlook for the global economy