Gold prices heads for 2nd weekly rise, PGMs off 17-month peak

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SummaryGold hit a low of $1,667.64 an ounce before rebounding to $1,671.31.

year, released on Friday, showed a surge in exports and imports that was not solely explained by the timing of the Lunar New Year holiday.

"There's pre-holiday buying in Hong Kong and China which has pushed up the gold price a little bit. But it's pretty quiet on our side," said a dealer in Hong Kong. "Let's see what people think about gold after the holiday, whether it will break the current ranges."

China's gold production rose for a sixth consecutive year and hit a record 403 tonnes in 2012, keeping its ranking as the world's largest bullion producer, the Shanghai Securities News said on Thursday.

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