Gold headed for the longest weekly rally since March as US economic data backed the case for sustained monetary stimulus.
Russia and Kazakhstan added bullion to reserves for a ninth month in June.
Spot gold gained as much as 0.6 percent to $1 341.20 (R13 110.7) an ounce on Friday, and traded at $1 334.15 by 3.17pm in Singapore.
Prices are 2.9 percent higher this week after rising to a one-month high of $1 348.65 on Wednesday.
Volumes for Shanghai’s benchmark spot bullion contract climbed to a one-week high of 14 618kg on Thursday.
Gold is up 8.1 percent in July, heading for the best month since last January, as the Bloomberg dollar index slid 1.6 percent after Federal Reserve chairman Ben Bernanke said it was too early to decide to scale back bond purchases. - Glenys Sim