Gold briefly climbs to new intraday highs over $2,900 a troy ounce following economic data early in the session, before ending up 0.4% to $2,867.30 an ounce.

Gold futures rose, sitting just below its all-time record, with safe-haven demand during political turbulence driving the rally.

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.

Gold’s record-breaking rally isn’t likely to slow down any time soon, as the market casts about for economic safe-havens.

Gold could reach $3,000 an ounce this quarter as investors flock to the safe-haven asset amid trade and geopolitical ...