Gold futures climbed on Friday to tally a gain of roughly 0.8% for the week. Concerns surrounding COVID-19 and its impact on the global economy continued to feed haven demand for the precious metal. “Should the outbreak take a dramatic turn for the worse, perhaps by way of confirmation in the economic data, $1600 remains in reach from current levels considering that gold prices have yet to reach overbought levels,” said Han Tan, market analyst at FXTM. April gold rose $7.60, or 0.5%, to settle at $1,586.40 an ounce. That was the highest most-active contract settlement so far this month, FactSet data show.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.