Gold extends gains in Asia

Gold rose further on Wednesday on inflation fears ignited by recent strong Chinese economic data, lingering worries over debt problems in Europe and the United States, as well as firm equities.
Spot gold added $1.53 an ounce to $1,524.78 an ounce by 0608 GMT, extending Tuesday's gains after data in China showed inflation was running at its fastest pace in almost three years and US retail sales fell less than forecast.
Gold is well below a lifetime high around $1,575 touched in early May. Silver was steady at $35.37 an ounce, below a record at $49.51 an ounce in April.