Gold squeezed out another 16-year peak on Friday afternoon in Europe at $437.40 per ounce, before shrinking back slightly with the euro after robust US data took the shine off bullion for non-US investors. Dealers remained confident on chances of moving to $450 - last seen in June 1988 - as worries about a record US current account deficit were expected to keep up pressure on the dollar.
Platinum was firm after speculative buying in the Far East, scoring its highest since early September during London's afternoon fixing session.
By 1540 GMT, spot gold was quoted at $435.80/436.30 a troy ounce, up from New York's late quote on Thursday of $434.35/435.10. The euro stood at $1.2919 after hitting a record high against the dollar earlier this week beyond $1.30.
"The dollar won some ground against the euro after retail sales came out broadly within expectations," a dealer said.
The US government said retail sales in October grew 0.2 percent compared with an upwardly revised 1.6 percent increase in September. Economists forecast a 0.2 percent rise in October.
Traders said gold had been "remarkably resilient" this week given the fall in oil prices, although the metal was still hooked mainly into currency moves.
"We have seen good interest from funds, along with some bouts of profit-taking. But whenever we see that, new customers are stepping in," David Holmes, vice-president at RBC Capital Markets said.
Gold struggled for weeks to crack a band of selling at $430 an ounce before breaking through late last week, attracting another wave of fund buying despite an over-extended speculative long position on the New York market.
Analysts said improved sentiment was also linked to the imminent listing in New York of a new exchange-traded gold fund.
Speculative buying in the Far East ahead of the release next week of a key industry report from precious metal refiner Johnson Matthey took platinum to its highest since early September.
Platinum was fixed in London at $871.00 an ounce, while spot rose to $866.00/870.00 from New York's $850.50/855.50.
Alexander Zumpfe of Dresdner Kleinwort Wasserstein said lower than expected Chinese inflation data had also helped as it had dampened interest hike fears.
"That is therefore encouraging for future commodity demand out of the country," he said.
Palladium was little changed at $213.00/218.00 from $212.0/217.00, while silver firmed to $7.44/7.47 from $7.43/7.46.