The precious metal recorded an increase of Rs2,300 in its price.
The gold price rose by $26 in the global market to reach $1882 an ounce Thursday.
Increased tensions between the USA and China and worries over growing coronavirus cases are expected to increase safe-haven demand for the precious metals, he said.
Gold continued rallying in Pakistan for the ninth consecutive day on Friday, eyeing the Rs120,000-a-tola mark and reaching Rs118700. Prices touched $1,898.34 on Thursday, nearing the record $1,921.17 hit in September 2011.
In the equity markets, MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent, but was still up 1.8 per cent for the week and near its highest since mid-January. Spot silver advanced 0.5% to $22.7047 an ounce, and is poised for the biggest weekly advance since 1980. So far this year, gold prices in India are up 30% in the futures market.
December surpassed August as the contract that has the highest open interest based on data published when July 24's Asian trading session was already happening.
All of which was enough to see the Dow end Thursday down 1.31 per cent, while the S&P 500 shed 1.23 per cent and the Nasdaq 2.29 per cent. These comments came after the United States unexpectedly compelled China to shut down its consulate in Houston within 72 hours. His comments came after the USA unexpectedly ordered China to close its consulate in Houston, following what it said were years of espionage directed from the diplomatic compound.
China said the order was an "unprecedented escalation" by Washington, and a source said Beijing was considering shutting the US consulate in Wuhan in retaliation.
But he said unprecedented stimulus measures to boost pandemic-battered economies would continue to provide structural support for riskier assets.
The Federal Reserve meets next week to decide if further accommodation is needed, while President Donald Trump promised a "great third quarter" for the economy.
While there's more need than ever to keep governments spending, the extra money being printed will likely prompt investors to increase their gold exposure, Jake Klein, executive chairman at Evolution Mining Ltd., said in a Bloomberg TV interview.
However, the rise in gold and silver has happened "very quickly - possibly too quickly", Commerzbank analysts said in a note, adding this "entails the risk of a setback, especially as gold and silver are being driven nearly exclusively by extremely strong investment demand".
Hopes for another round of U.S. stimulus and strong corporate earnings boosted Wall Street overnight even as Republicans and Democrats remain far apart on how much to spend on the next round of coronavirus relief.