Gold firmed above the key $1,500 pivot on Friday, en route to its best week since April 2016, as an escalation in the Sino-U.S.
Trade dispute and fears of a global economic slowdown triggered fresh interest for safe-haven assets.
Spot gold was up 0.5% at $1,507.20 per ounce as of 0334 GMT. Earlier this week, gold prices surpassed $1,500 level for the first since April 2013.
The metal has risen 4.6% so far this week, on track for its best week in more than three years.
U.S. gold futures rose 0.6% to $1,519 an ounce.
"The ongoing issues on the trade front have been battering markets for the course of this week," ANZ analyst Daniel Hynes said.
"We continue to see that markets (are) pricing in further rate cuts on the back of rising trade tensions, certainly supporting investment demand (for gold)."
Gold has risen more than 17% so far this year, and sprinted more than $100 over the past week, propelled by trade tensions and an increasingly dovish monetary policy shift by central banks amid fears of slowing growth.
In the latest development in the protracted dispute between the world's biggest economies, a report said that Washington is delaying a decision about licenses for U.S. firms to restart trade with Huawei Technologies.
Meanwhile, central banks of New Zealand, Thailand, and India stunned financial markets with a series of surprising interest rate cuts and pointing to policymakers' dwindling ammunition to fight a downturn.
On Thursday, U.S. President Donald Trump again expressed dissatisfaction with the strength of the U.S. dollar, saying the Federal Reserve's interest rates were harming American manufacturers.
Lower interest rates decrease the opportunity cost of holding the non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies
The dollar index was heading for its first weekly decline in four.
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