Ammon News - Gold prices rose on Friday and were on track for a sixth consecutive week of gains as escalating trade tensions between the U.S. and China prompted investors to seek refuge in the safe-haven asset.

Spot gold gained 0.2% to $2,861.46 per ounce as of 01:41 p.m. ET (1841 GMT), up more than 2% this week, after hitting a record high of $2,886.62 earlier in the session.

U.S. gold futures settled 0.4% higher at $2,887.60.

Spot silver fell 0.8% to $31.94 per ounce and platinum fell 0.3% to $982.50. Palladium was down 0.7% at $971.62.

Silver and platinum were headed for weekly gains, while palladium was down 3.7% for the week. Reuters