Dhaka, Oct. 17 -- Gold notched a new high above $4,300 an ounce on Friday and was poised for its best week in five years, as signs of weakness in US regional banks, global trade frictions and expectations of more rate cuts sent investors flocking to the safe-haven metal.

Spot gold was up 0.3 per cent at $4,336.18 per ounce, as of 0233 GMT, after reaching a fresh high of $4,378.69 earlier in the session. US gold futures for December delivery jumped 1 per cent to $4,348.70.

Bullion has risen about 8 per cent so far this week in what would be its best week since March 2020, notching a record high in each session.

Spot silver fell 0.7 per cent to $53.86 per ounce, but stayed on track for a weekly gain. Earlier in the session, prices reache...