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

In other markets, shares edged up after China's trade data for January handily beat forecasts to underscore a recovery trend, while the euro hovered near a two-week low after European Central Bank's chief cited downside risks to the bloc's economy.

A firmer dollar weighs on gold prices by making the metal more expensive for holders of other currencies.

China's economic rebound was evident as the first hard economic numbers of the 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."