Gold prices soared on Friday as traders flocked to the safety of the precious meta on lingering concerns over the global economy. The precious metal touched above $900 for the first time since early October.
February gold closed at $895.80, up $37 for the session. The metal reached as high as $903.80 during intraday trading.
The precious metal added $55.90 for the week after closing each of the two previous weeks lower. Gold remains more than 13% off the record $1,033.90 it reached 10 months ago.
The dollar saw choppy trading versus a basket of major currencies on Friday, giving back most of its early gains amid speculation its recent gains against the euro and sterling have been overdone. There was no major economic news from the U.S. on Friday.
In other metal trading, March silver climbed 57 cents to $11.94, copper climbed 7 cents to $1.47 per pound, platinum added $23.10 to $958 an ounce and palladium gained $12.30 to $197.10 an ounce.
Gold prices added $8.70 on Thursday as traders considered another disappointing jobs report. The Labor Department said jobless claims rose to 589,000 from the previous week's revised figure of 527,000.
Crude oil prices surged to the upside on Friday, adding to its gains from the two precious sessions. Light sweet crude for March delivery finished at $46.47 a barrel, up $2.80.
