A global equity collapse on Friday provided a lift for gold futures, which posted modest gains as investors looked for havens, leaving the yellow metal on track for a monthly gain.
Gold for April delivery rose $5.80, or 0.5%, to $1,248.30 U.S. an ounce. March silver advanced 19 cents, or 1%, to $19.32 U.S. an ounce.
Gold futures are up 3.8% since the beginning of January, based on most-active contracts tracked by FactSet. Stock-index futures are pointing to a triple-digit loss for the Dow Jones Industrial Average, while the S&P 500 is down nearly 3% in January after ending 2013 at a record high.
Still, the overall rise in gold this month is largely in line with the usual trend ahead of seasonal weakness in March and April as physical demand in Asia slows, according to some experts.
Gold fell nearly 2% on Thursday, taking its cue from a stronger dollar and a rebound in equities.
In other metals trading, April platinum rose $2.50, or 0.2%, to $1,384.80 U.S. an ounce, while March palladium rose 80 cents, or 0.1%, to $707.65 U.S. an ounce. March copper fell 1.5 cents, or 0.5%, to $3.21 U.S. a pound.
