COMEX Gold futures, per the August contract, finished higher by $9.20, or 0.6%, at $1,539.10 per ounce on Friday.
The yellow metal rallied despite vows from French President Nicolas Sarkozy and Germany Chancellor Angela Merkel that euro zone officials would ensure the stability of the euro amid the sovereign debt crisis in Greece.
For the week, gold futures advanced 0.6% as well.
Silver climbed alongside gold on Friday, settling with a gain of $0.19, or 0.5%, at $35.75 per ounce. However, gold’s sister precious metal still ended the week with a 1.6% loss.
Other metals finished lower on Friday, with platinum down $8.60 at $1,752.10 per ounce and palladium lower by $18.10 at $745.40 per ounce. On the week, platinum and palladium declined 4.4% and 8.8%, respectively.
Platinum Group Metals Reports Acceptance of WBJV Mining Rights Application
Platinum Group Metals (PLG.NYSE AMEX) announcement that the South African Department of Mineral Resources (DMR) has accepted the Company’s application for a mining right for the WBJV Project 1 Platinum Mine. This development indicates that the company has complied with submission requirements and can now proceed with the completion and submission of its Environmental Impact Assessment (EIA) and Environmental Management Programme Report.
On March 28, the emerging platinum producer received the consent of the South African Department of Mineral Resources for the company's detailed underground development plans and environmental management program, including the mining of a bulk sample. Civil engineering contractors are mobilizing and development is advancing on the project, which is strategically located on the world’s most prolific platinum-producing belt.
Platinum Group Metals is also conducting exploration work on its Canadian properties located near Thunder Bay, Ontario. Full Platinum Group Metals News Release.
PLATINUM TO FOLLOW SILVER?
