Gold prices inched higher on Friday and were poised for their biggest weekly gain since October 2011, as mounting worries over the economic fallout from the fast- spreading coronavirus drove investors towards the safe-haven metal. Spot gold climbed 0.2% to $1,672.80 per ounce, having risen about 2% in the previous session. The metal has gained about 5.5% so far this week. U.S. gold futures rose 0.4% to $1,674.20. Asian equities followed Wall Street lower, after major U.S. indexes fell more than 3% on Thursday, on fears that the epidemic could land a hard blow on the global economy. The U.S. 10-year Treasury yields fell to a record low, while the dollar held close to a two-month low touched against key rivals on Thursday. Against the dollar, the safe-haven Japanese yen hovered close to its highest since September, scaled in the previous session. The number of Americans filing for unemployment benefits fell last week, suggesting the labour market was on solid footing despite the epidemic, data showed.