Gold prices exceed $5,200 per ounce

Gold prices stabilized during Asian trading on Friday and are headed for significant gains in February, as demand for safe-haven assets is supported by rising geopolitical tensions and economic uncertainty.

Spot gold rose 0.2% to $5,194.02 per ounce, while gold futures rose 0.3% to $5,211.41 per ounce.

Spot gold traded 6.7% higher in February, largely recovering from the lows reached earlier in the month after gold's speculative rally faded within days.

Concerns about slowing growth in the world's major economies also kept traders largely focused on safe-haven assets, helping the precious metal recover most of its losses from late January. Geopolitical tensions around Iran have been a key factor in this recovery, with Washington sending additional ships to the Middle East and threatening military action if Tehran does not accept the nuclear deal.