Gold has climbed 6.5% so far in February, bringing gains for the ‌seven months to 58%.

• For more financial news, go to News24 Business.

Gold prices rose on Friday ⁠as uncertainty over US tariff policies and US-Iran tensions underpinned the metal's safe-haven ⁠appeal and put it on track for a seventh straight monthly gain.

Spot gold gained 0.9% to $5 232.21 an ounce by early evening SA time. The metal has climbed 6.5% so far in February, bringing gains for the ‌seven months to 58%.

US gold futures for April delivery were up 1.2% at $5,253.20.

US 10-year Treasury yields fell to a three-month low on the day, decreasing the opportunity cost ‌of holding non-yielding gold.

"There are two things (supporting gold). First is the tariff uncertainty in the market right now, and on the other hand, the Iran and the US situation," said ANZ analyst Soni Kumari.

The United States and Iran ‌held indirect talks ⁠in Geneva on Thursday over their long-running nuclear dispute, with the Omani mediator saying the two sides had made progress. They plan to resume negotiations next week with technical-level discussions in Vienna.

"The latest rounds of talks have not produced a clear outcome, leaving geopolitical risks present but not escalating. This has kept gold at elevated levels, though it has not yet provided sufficient momentum to establish a sustainable bullish trend," said Linh Tran, senior market analyst at XS.com.

The US began collecting a temporary 10% ⁠global import tariff on Tuesday. However, the rate will rise to 15% for some countries, U.S. Trade Representative Jamieson Greer has said.

On the data front, the number of Americans filing new applications for jobless benefits increased slightly last ⁠week, but the unemployment rate was steady in February.

China's central bank moved to contain the fast-rising yuan on Friday, scrapping risk reserves requirements for forex forward contracts, which should encourage dollar-buying and shelter exporters from the impact of a ⁠stronger domestic currency.

Spot silver rose 4.4% to $92.20 an ounce, on course for a 6.2% ‌monthly gain.

Spot platinum climbed ‌by 5.3% to a four-week high of $2 393.80 an ounce while palladium gained 1.5% to $1 810.60.